Priority Technology (NASDAQ:PRTH) Sees Strong Trading Volume – Here’s What Happened

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) saw unusually-high trading volume on Tuesday . Approximately 122,139 shares traded hands during mid-day trading, an increase of 81% from the previous session’s volume of 67,544 shares.The stock last traded at $9.92 and had previously closed at $9.92.

Analyst Upgrades and Downgrades

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

Priority Technology Stock Up 0.5 %

The business’s 50 day simple moving average is $6.94 and its two-hundred day simple moving average is $5.73.

Insider Buying and Selling

In related news, insider Sean Kiewiet sold 4,483 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $6.00, for a total transaction of $26,898.00. Following the completion of the sale, the insider now directly owns 1,065,158 shares in the company, valued at $6,390,948. This represents a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.13, for a total value of $61,300.00. Following the completion of the sale, the chief accounting officer now directly owns 11,587 shares of the company’s stock, valued at $71,028.31. The trade was a 46.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,032 shares of company stock valued at $737,382. 76.30% of the stock is owned by insiders.

Institutional Trading of Priority Technology

Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in Priority Technology during the 3rd quarter valued at approximately $91,000. Barclays PLC increased its stake in shares of Priority Technology by 255.9% during the third quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after buying an additional 18,741 shares during the period. Geode Capital Management LLC lifted its stake in shares of Priority Technology by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after purchasing an additional 21,598 shares during the last quarter. Jane Street Group LLC increased its position in shares of Priority Technology by 6.1% during the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Corsair Capital Management L.P. lifted its stake in shares of Priority Technology by 10.5% during the third quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after buying an additional 10,000 shares during the period. 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.