Priority Technology (NASDAQ:PRTH) Hits New 52-Week High – Time to Buy?

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) reached a new 52-week high on Tuesday . The stock traded as high as $9.02 and last traded at $8.97, with a volume of 67977 shares. The stock had previously closed at $8.40.

Analyst Ratings Changes

Several equities research analysts recently commented on PRTH shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $9.00 price objective (up from $5.00) on shares of Priority Technology in a research report on Friday, November 8th. B. Riley lifted their price target on shares of Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd.

Priority Technology Stock Down 2.5 %

The company has a fifty day moving average of $6.55 and a 200 day moving average of $5.44.

Insider Activity

In other news, CEO Thomas Charles Priore sold 16,000 shares of Priority Technology stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $5.08, for a total transaction of $81,280.00. Following the transaction, the chief executive officer now directly owns 34,301,608 shares of the company’s stock, valued at $174,252,168.64. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Kiewiet sold 7,201 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $5.90, for a total transaction of $42,485.90. Following the completion of the sale, the insider now directly owns 1,094,652 shares of the company’s stock, valued at $6,458,446.80. This represents a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,302 shares of company stock valued at $367,781 in the last quarter. 76.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Priority Technology

A number of institutional investors have recently bought and sold shares of the business. Rebalance LLC purchased a new position in shares of Priority Technology in the third quarter worth $4,822,000. Vanguard Group Inc. lifted its stake in Priority Technology by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after purchasing an additional 156,044 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new stake in Priority Technology in the 2nd quarter worth $301,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Priority Technology during the 1st quarter valued at about $164,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Priority Technology during the second quarter valued at about $202,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.

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.