Short Interest in Priority Technology Holdings, Inc. (NASDAQ:PRTH) Declines By 13.7%

Priority Technology Holdings, Inc. (NASDAQ:PRTH) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 698,800 shares, a decline of 13.7% from the December 15th total of 809,700 shares. Approximately 5.0% of the company’s stock are sold short. Based on an average daily trading volume, of 246,700 shares, the days-to-cover ratio is presently 2.8 days.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PRTH shares. B. Riley raised their price target on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Lake Street Capital lifted their target price on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Keefe, Bruyette & Woods upgraded Priority Technology from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $10.00 to $14.00 in a research note on Thursday.

Insider Transactions at Priority Technology

In other news, insider Sean Kiewiet sold 5,700 shares of Priority Technology stock in a transaction on Monday, November 4th. The shares were sold at an average price of $5.11, for a total value of $29,127.00. Following the transaction, the insider now directly owns 1,055,158 shares of the company’s stock, valued at $5,391,857.38. The trade was a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 231,215 shares of company stock worth $2,360,486. 76.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Priority Technology

A number of large investors have recently modified their holdings of PRTH. Rebalance LLC acquired a new stake in shares of Priority Technology in the third quarter valued at about $4,822,000. Geode Capital Management LLC increased its holdings in Priority Technology by 5.8% in the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock valued at $2,707,000 after buying an additional 21,598 shares in the last quarter. Corsair Capital Management L.P. lifted its position in shares of Priority Technology by 10.5% during the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after acquiring an additional 10,000 shares during the period. Pekin Hardy Strauss Inc. boosted its stake in shares of Priority Technology by 17.0% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after acquiring an additional 9,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 worth $386,000 after acquiring an additional 7,719 shares during the period. 11.52% of the stock is owned by hedge funds and other institutional investors.

Priority Technology Trading Up 2.8 %

Shares of Priority Technology stock traded up $0.24 on Friday, reaching $8.90. 1,461,454 shares of the stock were exchanged, compared to its average volume of 352,839. The firm has a market capitalization of $687.08 million, a PE ratio of -21.19 and a beta of 1.17. Priority Technology has a 1-year low of $2.82 and a 1-year high of $12.44. The business has a fifty day moving average price of $9.70 and a two-hundred day moving average price of $7.11.

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.