Priority Technology (NASDAQ:PRTH) Given New $16.00 Price Target at B. Riley

Priority Technology (NASDAQ:PRTH) had its price target boosted by B. Riley from $13.00 to $16.00 in a report issued on Monday,Benzinga reports. B. Riley currently has a buy rating on the stock.

PRTH has been the subject of several other research reports. Lake Street Capital raised their price objective on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods lifted their price target on shares of Priority Technology from $9.00 to $10.00 and gave the company a “market perform” rating in a research note on Friday.

Priority Technology Trading Up 9.0 %

PRTH opened at $8.74 on Monday. The firm has a market cap of $674.47 million, a P/E ratio of -20.81 and a beta of 1.01. Priority Technology has a 12 month low of $2.79 and a 12 month high of $9.85. The stock has a 50-day moving average of $6.68 and a 200 day moving average of $5.56.

Insider Activity

In related news, insider Sean Kiewiet sold 4,483 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $6.00, for a total transaction of $26,898.00. Following the completion of the transaction, the insider now directly owns 1,065,158 shares in the company, valued at $6,390,948. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $6.13, for a total transaction of $61,300.00. Following the transaction, the chief accounting officer now owns 11,587 shares of the company’s stock, valued at $71,028.31. This represents a 46.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,302 shares of company stock valued at $286,501 over the last ninety days. 76.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in Priority Technology during the first quarter valued at $50,000. Williams & Novak LLC acquired a new position in shares of Priority Technology in the second quarter worth about $77,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Priority Technology in the first quarter worth about $91,000. BNP Paribas Financial Markets raised its position in shares of Priority Technology by 61.7% in the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after acquiring an additional 6,096 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Priority Technology in the third quarter worth about $112,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

About Priority Technology

Priority Technology Holdings, Inc operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing.