Priority Technology (NASDAQ:PRTH) Shares Up 2.8% – Here’s What Happened

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) were up 2.8% on Monday . The company traded as high as $6.92 and last traded at $6.94. Approximately 171,796 shares changed hands during trading, a decline of 31% from the average daily volume of 249,665 shares. The stock had previously closed at $6.75.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Cowen raised shares of Priority Technology to a “strong-buy” rating in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $12.00 price target (down from $14.00) on shares of Priority Technology in a report on Friday, March 7th.

Priority Technology Stock Down 0.3 %

The stock has a market cap of $584.46 million, a P/E ratio of -17.50 and a beta of 0.99. The company’s 50 day moving average price is $9.28 and its two-hundred day moving average price is $8.56.

Insider Buying and Selling at Priority Technology

In related news, Director John Vito Priore sold 3,454,575 shares of Priority Technology stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $7.44, for a total value of $25,702,038.00. Following the completion of the sale, the director now directly owns 5,314,430 shares in the company, valued at $39,539,359.20. The trade was a 39.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Ranjana Ram sold 6,615 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total transaction of $49,215.60. Following the completion of the sale, the chief operating officer now directly owns 686,389 shares of the company’s stock, valued at approximately $5,106,734.16. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,122,431 shares of company stock valued at $38,110,887 in the last ninety days. Corporate insiders own 76.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PRTH. National Bank of Canada FI purchased a new stake in shares of Priority Technology during the fourth quarter worth about $56,000. Deutsche Bank AG acquired a new position in Priority Technology during the 4th quarter valued at approximately $60,000. Virtu Financial LLC purchased a new position in shares of Priority Technology in the third quarter worth $91,000. SG Americas Securities LLC acquired a new stake in shares of Priority Technology during the fourth quarter worth $100,000. Finally, Wells Fargo & Company MN lifted its position in Priority Technology by 53.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,593 shares of the company’s stock worth $101,000 after acquiring an additional 3,006 shares during the period. 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.