Priority Technology Holdings, Inc. (NASDAQ:PRTH) Short Interest Down 13.7% in December

Priority Technology Holdings, Inc. (NASDAQ:PRTH) was the recipient of a significant decrease in short interest in 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 trading volume of 246,700 shares, the short-interest ratio is presently 2.8 days.

Insider Buying and Selling at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 22,178 shares of Priority Technology stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $10.01, for a total transaction of $222,001.78. Following the completion of the transaction, the insider now directly owns 1,009,675 shares of the company’s stock, valued at approximately $10,106,846.75. This trade represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 231,215 shares of company stock worth $2,360,486 over the last three months. Company insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Priority Technology in the third quarter valued at approximately $91,000. BNP Paribas Financial Markets raised its position in shares of Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after acquiring an additional 6,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Priority Technology during the third quarter valued at $112,000. Jane Street Group LLC boosted its holdings in 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 acquiring an additional 1,293 shares during the last quarter. Finally, Ritholtz Wealth Management increased its position in Priority Technology by 99.1% in the fourth quarter. Ritholtz Wealth Management now owns 24,780 shares of the company’s stock worth $291,000 after purchasing an additional 12,336 shares during the period. 11.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRTH. Keefe, Bruyette & Woods raised shares of Priority Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $10.00 to $14.00 in a report on Thursday. Lake Street Capital lifted their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, B. Riley increased their price target on 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 Trading Up 7.4 %

Shares of Priority Technology stock traded up $0.60 during trading on Thursday, reaching $8.66. The company’s stock had a trading volume of 5,291,674 shares, compared to its average volume of 915,807. The stock has a 50-day moving average price of $9.62 and a two-hundred day moving average price of $7.07. The stock has a market capitalization of $668.55 million, a P/E ratio of -20.62 and a beta of 1.17. Priority Technology has a one year low of $2.82 and a one year high of $12.44.

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.