Priority Technology (NASDAQ:PRTH) Price Target Increased to $13.00 by Analysts at B. Riley

Priority Technology (NASDAQ:PRTH) had its price objective increased by B. Riley from $11.00 to $13.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Keefe, Bruyette & Woods lifted their target price on shares of Priority Technology from $4.50 to $5.00 and gave the company a market perform rating in a report on Friday, August 9th.

Priority Technology Stock Up 1.5 %

Shares of PRTH stock opened at $6.85 on Monday. Priority Technology has a 52-week low of $2.79 and a 52-week high of $7.00. The stock’s 50-day moving average price is $5.58 and its 200 day moving average price is $4.46. The stock has a market capitalization of $548.45 million, a PE ratio of -11.81 and a beta of 0.97.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) EPS 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 Activity

In related news, CEO Thomas Charles Priore sold 16,000 shares of the company’s stock in a transaction on 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 owns 34,301,608 shares of the company’s stock, valued at $174,252,168.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Sean Kiewiet sold 28,501 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $5.18, for a total transaction of $147,635.18. Following the sale, the insider now owns 1,196,320 shares of the company’s stock, valued at approximately $6,196,937.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Charles Priore sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $5.08, for a total value of $81,280.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 100,395 shares of company stock valued at $529,410 in the last three months. 76.30% of the stock is currently owned by company insiders.

Institutional Trading of Priority Technology

Several large investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System acquired a new position in shares of Priority Technology during the 1st quarter worth $91,000. Vanguard Group Inc. increased its holdings in Priority Technology by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after acquiring an additional 156,044 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Priority Technology during the first quarter worth about $164,000. Virtu Financial LLC acquired a new stake in shares of Priority Technology in the first quarter valued at approximately $50,000. Finally, Williams & Novak LLC purchased a new position in shares of Priority Technology during the 2nd quarter worth approximately $77,000. 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.