Priority Technology (NASDAQ:PRTH) Reaches New 52-Week High at $6.90

Priority Technology Holdings, Inc. (NASDAQ:PRTH) hit a new 52-week high on Wednesday . The company traded as high as $6.90 and last traded at $6.87, with a volume of 74812 shares changing hands. The stock had previously closed at $6.73.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their price objective on Priority Technology from $4.50 to $5.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th.

Priority Technology Stock Up 4.9 %

The firm’s 50 day moving average is $5.52 and its two-hundred day moving average is $4.39. The stock has a market cap of $533.23 million, a price-to-earnings ratio of -11.48 and a beta of 0.97.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter. Priority Technology had a negative return on equity of 9.60% and a net margin of 0.74%. The company had revenue of $219.87 million for the quarter.

Insider Buying and Selling at Priority Technology

In related news, CAO Rajiv Kumar sold 10,000 shares of the 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 sale, the chief accounting officer now owns 11,587 shares of the company’s stock, valued at approximately $71,028.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Priority Technology news, insider Sean Kiewiet sold 4,954 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $5.41, for a total transaction of $26,801.14. Following the completion of the transaction, the insider now owns 1,085,158 shares in the company, valued at approximately $5,870,704.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction on 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 directly owns 11,587 shares in the company, valued at $71,028.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,395 shares of company stock worth $529,410. 76.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Priority Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 156,044 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new position in shares of Priority Technology during the second quarter valued at $301,000. Jacobs Levy Equity Management Inc. acquired a new position in Priority Technology during the first quarter valued at $164,000. Renaissance Technologies LLC purchased a new stake in Priority Technology in the 2nd quarter worth about $202,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Priority Technology during the 1st quarter worth about $91,000. 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.