Priority Technology (NASDAQ:PRTH) Sees Strong Trading Volume – Time to Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH) shares saw strong trading volume on Tuesday . 139,655 shares were traded during mid-day trading, an increase of 71% from the previous session’s volume of 81,510 shares.The stock last traded at $10.09 and had previously closed at $9.22.

Analyst Upgrades and Downgrades

PRTH has been the topic of several recent research reports. 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 report on Friday, November 22nd. B. Riley boosted their price objective 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, Keefe, Bruyette & Woods increased their target price on Priority Technology from $9.00 to $10.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd.

Priority Technology Stock Up 14.8 %

The firm has a market capitalization of $816.75 million, a PE ratio of -25.19 and a beta of 1.20. The firm’s 50 day moving average price is $7.85 and its two-hundred day moving average price is $6.32.

Insider Buying and Selling at Priority Technology

In other news, insider Sean Kiewiet sold 4,483 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $6.00, for a total transaction of $26,898.00. Following the completion of the transaction, the insider now directly owns 1,065,158 shares in the company, valued at approximately $6,390,948. This represents a 0.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 76,766 shares of company stock valued at $656,166 in the last ninety days. Insiders own 76.30% of the company’s stock.

Institutional Trading of Priority Technology

Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new stake in shares of Priority Technology in the 2nd quarter worth about $202,000. Pekin Hardy Strauss Inc. bought a new stake in Priority Technology in the second quarter valued at about $301,000. Rebalance LLC acquired a new stake in Priority Technology during the third quarter valued at approximately $4,822,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Priority Technology during the 3rd quarter worth approximately $112,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Priority Technology by 15.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after acquiring an additional 7,719 shares in the last quarter. 11.52% of the stock is owned by institutional investors and hedge funds.

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.