Priority Technology Holdings, Inc. (NASDAQ:PRTH) Short Interest Update

Priority Technology Holdings, Inc. (NASDAQ:PRTH) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 698,800 shares, a decrease of 13.7% from the December 15th total of 809,700 shares. Approximately 5.0% of the shares of the stock are short sold. Based on an average daily volume of 246,700 shares, the days-to-cover ratio is presently 2.8 days.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PRTH shares. Keefe, Bruyette & Woods raised Priority Technology from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $10.00 to $14.00 in a research note on Thursday. Lake Street Capital boosted their price target on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, B. Riley raised their price objective on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 25th.

Priority Technology Stock Performance

Shares of Priority Technology stock traded up $0.24 during trading hours on Friday, hitting $8.90. The company’s stock had a trading volume of 1,461,454 shares, compared to its average volume of 352,839. The stock has a market cap of $687.08 million, a price-to-earnings ratio of -21.19 and a beta of 1.17. Priority Technology has a twelve month low of $2.82 and a twelve month high of $12.44. The firm has a fifty day moving average of $9.70 and a 200-day moving average of $7.11.

Insider Activity at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 22,178 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $10.01, for a total value of $222,001.78. Following the transaction, the insider now directly owns 1,009,675 shares of the company’s stock, valued at $10,106,846.75. This trade represents a 2.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 231,215 shares of company stock valued at $2,360,486. 76.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC grew its stake in shares of Priority Technology by 6.1% in the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after buying an additional 1,293 shares in the last quarter. BNP Paribas Financial Markets grew its position in Priority Technology by 61.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after acquiring an additional 6,096 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 during the period. SG Americas Securities LLC acquired a new stake in shares of Priority Technology during the fourth quarter worth about $100,000. Finally, Pekin Hardy Strauss Inc. boosted its stake in shares of Priority Technology by 17.0% in the third 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 period. Hedge funds and other institutional investors own 11.52% of the company’s stock.

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.