Priority Technology (NASDAQ:PRTH) Sees Strong Trading Volume – Should You Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH) shares saw unusually-strong trading volume on Friday . Approximately 626,519 shares changed hands during trading, an increase of 153% from the previous session’s volume of 248,032 shares.The stock last traded at $6.80 and had previously closed at $7.43.

Wall Street Analyst Weigh In

PRTH has been the subject of a number of research analyst reports. TD Cowen upgraded Priority Technology to a “strong-buy” rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $12.00 price objective (down from $14.00) on shares of Priority Technology in a report on Friday, March 7th.

Priority Technology Trading Down 9.2 %

The firm has a 50-day moving average of $9.35 and a two-hundred day moving average of $8.53. The firm has a market capitalization of $536.75 million, a P/E ratio of -16.07 and a beta of 0.99.

Insider Activity

In other Priority Technology news, Director John Vito Priore sold 3,454,575 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $7.44, for a total transaction of $25,702,038.00. Following the sale, the director now directly owns 5,314,430 shares of the company’s stock, valued at $39,539,359.20. The trade was a 39.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas Charles Priore sold 105,833 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $787,397.52. Following the transaction, the chief executive officer now directly owns 33,919,486 shares of the company’s stock, valued at $252,360,975.84. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,122,431 shares of company stock worth $38,110,887. Insiders own 76.30% of the company’s stock.

Institutional Investors Weigh In On Priority Technology

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

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.