Priority Technology (NASDAQ:PRTH) Shares Down 2.6% – What’s Next?

Priority Technology Holdings, Inc. (NASDAQ:PRTH) shares traded down 2.6% during trading on Thursday . The stock traded as low as $11.25 and last traded at $11.44. 83,130 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 92,905 shares. The stock had previously closed at $11.75.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target 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. B. Riley upped their target price on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Lake Street Capital upped their target price 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.

Priority Technology Trading Up 7.0 %

The firm has a market capitalization of $948.76 million, a PE ratio of -29.26 and a beta of 1.20. The stock has a 50 day simple moving average of $8.84 and a 200 day simple moving average of $6.74.

Insider Activity at Priority Technology

In related news, insider Sean Kiewiet sold 22,178 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $10.01, for a total transaction of $222,001.78. Following the sale, the insider now owns 1,009,675 shares of the company’s stock, valued at $10,106,846.75. The trade was a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 231,215 shares of company stock worth $2,360,486 in the last three months. 76.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Priority Technology

A number of hedge funds have recently added to or reduced their stakes in PRTH. Virtu Financial LLC purchased a new stake in Priority Technology during the 3rd quarter valued at $91,000. BNP Paribas Financial Markets increased its stake 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 worth $109,000 after purchasing an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Priority Technology in the 3rd quarter worth $112,000. 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 purchasing an additional 1,293 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Priority Technology by 255.9% during the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after buying an additional 18,741 shares in the last quarter. 11.52% of the stock is currently 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.