Priority Technology (NASDAQ:PRTH) Reaches New 52-Week High – What’s Next?

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.15 and last traded at $10.83, with a volume of 868553 shares trading hands. The stock had previously closed at $9.22.

Analysts Set New Price Targets

PRTH has been the topic of several research reports. Lake Street Capital increased their target price on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. B. Riley increased their price target on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Priority Technology from $9.00 to $10.00 and gave the company a “market perform” rating in a report on Friday, November 22nd.

Priority Technology Stock Performance

The business has a 50-day simple moving average of $8.13 and a 200-day simple moving average of $6.43. The company has a market cap of $914.02 million, a price-to-earnings ratio of -28.19 and a beta of 1.19.

Insider Buying and Selling

In other Priority Technology news, insider Sean Kiewiet sold 11,664 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $6.61, for a total value of $77,099.04. Following the sale, the insider now directly owns 1,073,494 shares in the company, valued at $7,095,795.34. This trade represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 76,766 shares of company stock worth $656,166 over the last 90 days. 76.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in Priority Technology during the third quarter worth approximately $91,000. BNP Paribas Financial Markets boosted its holdings in shares of Priority Technology by 61.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after buying an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Priority Technology in the 3rd quarter valued at $112,000. Jane Street Group LLC grew its position in shares of Priority Technology by 6.1% in the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after buying an additional 1,293 shares during the last quarter. Finally, Barclays PLC raised its stake in Priority Technology by 255.9% during the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock worth $178,000 after acquiring an additional 18,741 shares in the last quarter. 11.52% of the stock is owned by institutional investors and hedge funds.

Priority Technology Company Profile

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.