Short Interest in Priority Technology Holdings, Inc. (NASDAQ:PRTH) Declines By 14.8%

Priority Technology Holdings, Inc. (NASDAQ:PRTH) was the target of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 279,000 shares, a decline of 14.8% from the February 13th total of 327,500 shares. Based on an average daily trading volume, of 631,400 shares, the short-interest ratio is currently 0.4 days. Currently, 1.3% of the company’s stock are short sold.

Insider Buying and Selling

In other Priority Technology news, Director John Vito Priore sold 3,454,575 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $25,702,038.00. Following the transaction, the director now directly owns 5,314,430 shares in the company, valued at $39,539,359.20. The trade was a 39.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Kiewiet sold 170,596 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $10.60, for a total transaction of $1,808,317.60. Following the completion of the transaction, the insider now owns 711,853 shares in the company, valued at approximately $7,545,641.80. This trade represents a 19.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,293,027 shares of company stock worth $39,919,204. Insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in PRTH. Jefferies Financial Group Inc. bought a new position in Priority Technology during the 4th quarter worth approximately $684,000. Two Sigma Advisers LP acquired a new stake in Priority Technology in the 4th quarter valued at $327,000. Two Sigma Investments LP acquired a new position in shares of Priority Technology during the fourth quarter valued at about $882,000. Steamboat Capital Partners LLC acquired a new stake in shares of Priority Technology in the 4th quarter worth about $9,382,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Priority Technology in the fourth quarter worth approximately $183,000. 11.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRTH has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $12.00 target price (down from $14.00) on shares of Priority Technology in a report on Friday, March 7th. B. Riley lifted their price target on Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Lake Street Capital boosted 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. Finally, TD Cowen upgraded Priority Technology to a “strong-buy” rating in a research note on Tuesday.

Priority Technology Stock Up 1.5 %

Shares of Priority Technology stock opened at $8.03 on Friday. The company’s fifty day moving average is $9.55 and its 200 day moving average is $8.43. Priority Technology has a twelve month low of $2.82 and a twelve month high of $12.47. The stock has a market cap of $638.54 million, a price-to-earnings ratio of -19.12 and a beta of 0.99.

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.