Priority Technology (PRTH) – Research Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Priority Technology (NASDAQ: PRTH) recently:

• 11/25/2024 – Priority Technology had its price target raised by analysts at B. Riley from $13.00 to $16.00. They now have a “buy” rating on the stock.
• 11/22/2024 – Priority Technology had its price target raised by analysts at Keefe, Bruyette & Woods from $9.00 to $10.00. They now have a “market perform” rating on the stock.
• 11/22/2024 – Priority Technology had its price target raised by analysts at Lake Street Capital from $8.00 to $13.00. They now have a “buy” rating on the stock.
• 11/8/2024 – Priority Technology had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $9.00 price target on the stock, up previously from $5.00.

Priority Technology Stock Performance

NASDAQ PRTH opened at $10.02 on Wednesday. The stock has a market capitalization of $773.24 million, a P/E ratio of -23.86 and a beta of 1.01. Priority Technology Holdings, Inc. has a 52 week low of $2.79 and a 52 week high of $10.05. The stock has a fifty day moving average of $6.75 and a 200-day moving average of $5.60.

Insider Buying and Selling

In other news, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.13, for a total value of $61,300.00. Following the transaction, the chief accounting officer now directly owns 11,587 shares in the company, valued at $71,028.31. This trade represents a 46.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Kiewiet sold 4,483 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $6.00, for a total value of $26,898.00. Following the completion of the sale, the insider now owns 1,065,158 shares of the company’s stock, valued at $6,390,948. This represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,302 shares of company stock worth $286,501 over the last three months. 76.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Priority Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Priority Technology by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after acquiring an additional 156,044 shares during the last quarter. Rebalance LLC acquired a new stake in Priority Technology in the third quarter worth $4,822,000. Geode Capital Management LLC boosted its position in shares of Priority Technology by 5.8% during the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after purchasing an additional 21,598 shares in the last quarter. Corsair Capital Management L.P. grew its holdings in shares of Priority Technology by 10.5% in the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after buying an additional 10,000 shares during the period. Finally, Pekin Hardy Strauss Inc. increased its position in shares of Priority Technology by 17.0% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock valued at $455,000 after buying an additional 9,675 shares in the last quarter. Institutional investors own 11.52% of the company’s stock.

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.