Priority Technology (NASDAQ:PRTH) Price Target Raised to $13.00

Priority Technology (NASDAQ:PRTH) had its target price raised by Lake Street Capital from $8.00 to $13.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on PRTH. B. Riley increased their price target on shares of Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $9.00 target price (up previously from $5.00) on shares of Priority Technology in a research note on Friday, November 8th.

Priority Technology Price Performance

NASDAQ:PRTH opened at $8.02 on Friday. The company has a market cap of $618.87 million, a price-to-earnings ratio of -19.10 and a beta of 1.01. Priority Technology has a 1 year low of $2.79 and a 1 year high of $9.25. The stock’s 50 day simple moving average is $6.63 and its two-hundred day simple moving average is $5.52.

Insiders Place Their Bets

In related news, insider Sean Kiewiet sold 5,700 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $5.11, for a total value of $29,127.00. Following the completion of the sale, the insider now owns 1,055,158 shares in the company, valued at approximately $5,391,857.38. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the chief accounting officer now owns 11,587 shares in the company, valued at $71,028.31. The trade was a 46.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,302 shares of company stock worth $286,501 over the last quarter. Company insiders own 76.30% of the company’s stock.

Institutional Trading of Priority Technology

A number of hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its holdings 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 purchasing an additional 1,293 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Priority Technology by 61.7% during the third 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 during the period. Charles Schwab Investment Management Inc. raised its stake in Priority Technology by 15.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after buying an additional 7,719 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in Priority Technology by 17.0% during the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after buying an additional 9,675 shares during the period. Finally, Corsair Capital Management L.P. boosted its position in Priority Technology by 10.5% during the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after acquiring an additional 10,000 shares in the last quarter. 11.52% of the stock is owned by hedge funds and other 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.