Priority Technology (NASDAQ:PRTH) Sees Large Volume Increase – Time to Buy?

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) saw strong trading volume on Wednesday . 257,981 shares changed hands during mid-day trading, a decline of 15% from the previous session’s volume of 304,159 shares.The stock last traded at $8.01 and had previously closed at $9.57.

Analyst Ratings Changes

Several brokerages recently weighed in on PRTH. B. Riley boosted their target price on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Lake Street Capital raised their price objective on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Keefe, Bruyette & Woods raised shares of Priority Technology from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $10.00 to $14.00 in a report on Thursday.

Priority Technology Trading Up 7.4 %

The firm’s 50-day moving average price is $9.62 and its two-hundred day moving average price is $7.07.

Insider Buying and Selling at Priority Technology

In related news, insider Sean Kiewiet sold 22,178 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $10.01, for a total transaction of $222,001.78. Following the sale, the insider now directly owns 1,009,675 shares of the company’s stock, valued at $10,106,846.75. This represents a 2.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 231,215 shares of company stock worth $2,360,486 over the last three months. Insiders own 76.30% of the company’s stock.

Institutional Trading of Priority Technology

Several hedge funds have recently added to or reduced their stakes in PRTH. Jane Street Group LLC lifted its position 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. BNP Paribas Financial Markets increased 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 purchasing an additional 6,096 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $386,000 after purchasing an additional 7,719 shares during the last quarter. Pekin Hardy Strauss Inc. boosted 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 purchasing an additional 9,675 shares during the period. Finally, Corsair Capital Management L.P. grew its stake in Priority Technology by 10.5% during the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds 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.