Priority Technology (NASDAQ:PRTH) Price Target Raised to $13.00 at Lake Street Capital

Priority Technology (NASDAQ:PRTH) had its price objective lifted by Lake Street Capital from $8.00 to $13.00 in a research report report published on Friday morning,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Several other analysts have also commented on PRTH. B. Riley increased their price objective on Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $9.00 price objective (up previously from $5.00) on shares of Priority Technology in a report on Friday, November 8th.

Priority Technology Trading Down 4.0 %

Shares of PRTH opened at $8.02 on Friday. Priority Technology has a 12 month low of $2.79 and a 12 month high of $9.25. The stock has a fifty day moving average price of $6.63 and a 200-day moving average price of $5.49.

Insider Buying and Selling

In related news, insider Sean Kiewiet sold 5,700 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $5.11, for a total value of $29,127.00. Following the completion of the transaction, the insider now owns 1,055,158 shares in the company, valued at $5,391,857.38. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.13, for a total value of $61,300.00. Following the transaction, the chief accounting officer now owns 11,587 shares of the company’s stock, valued at $71,028.31. The trade was a 46.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,302 shares of company stock worth $286,501 in the last 90 days. 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 purchased a new position in shares of Priority Technology during the 1st quarter valued at about $50,000. Williams & Novak LLC acquired a new stake in shares of Priority Technology during the 2nd quarter valued at about $77,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Priority Technology during the 1st quarter valued at about $91,000. BNP Paribas Financial Markets grew its position in shares of Priority Technology by 61.7% during 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 during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Priority Technology during the 3rd quarter valued at about $112,000. Hedge funds and other 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.