Priority Technology (NASDAQ:PRTH) Shares Gap Up – What’s Next?

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) gapped up prior to trading on Thursday . The stock had previously closed at $10.83, but opened at $11.49. Priority Technology shares last traded at $11.55, with a volume of 147,513 shares traded.

Wall Street Analysts Forecast Growth

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

Priority Technology Stock Performance

The firm’s fifty day moving average price is $8.22 and its 200 day moving average price is $6.48. The firm has a market cap of $850.72 million, a P/E ratio of -26.24 and a beta of 1.19.

Insider Buying and Selling

In other Priority Technology news, insider Sean Kiewiet sold 4,483 shares of Priority Technology stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $6.00, for a total value of $26,898.00. Following the transaction, the insider now 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 Securities & Exchange Commission, which is available at the SEC website. Insiders sold 76,766 shares of company stock valued at $656,166 over the last 90 days. Corporate insiders own 76.30% of the company’s stock.

Institutional Trading of Priority Technology

A number of institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its position in Priority Technology by 6.1% during the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after acquiring an additional 1,293 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after purchasing an additional 6,096 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Priority Technology by 15.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after purchasing an additional 7,719 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in shares of Priority Technology by 17.0% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock valued at $455,000 after purchasing an additional 9,675 shares during the last quarter. Finally, Corsair Capital Management L.P. boosted its position in shares of Priority Technology by 10.5% in the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after purchasing an additional 10,000 shares in the last quarter. 11.52% of the stock is currently owned by institutional investors.

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.