Lake Street Capital Forecasts Strong Price Appreciation for Priority Technology (NASDAQ:PRTH) Stock

Priority Technology (NASDAQ:PRTH) had its price target raised by Lake Street Capital from $8.00 to $13.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $9.00 price objective (up previously from $5.00) on shares of Priority Technology in a research note on Friday, November 8th. B. Riley boosted their price target on Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd.

Priority Technology Stock Performance

NASDAQ:PRTH opened at $8.74 on Friday. The firm has a 50-day simple moving average of $6.68 and a 200-day simple moving average of $5.56. Priority Technology has a one year low of $2.79 and a one year high of $9.85. The firm has a market cap of $674.47 million, a P/E ratio of -20.81 and a beta of 1.01.

Insider Buying and Selling

In other Priority Technology news, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $6.13, for a total value of $61,300.00. Following the completion of the sale, the chief accounting officer now owns 11,587 shares of the company’s stock, valued at approximately $71,028.31. This trade represents a 46.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Kiewiet sold 4,954 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.41, for a total value of $26,801.14. Following the sale, the insider now owns 1,085,158 shares in the company, valued at $5,870,704.78. The trade was a 0.45 % 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 in the last 90 days. 76.30% of the stock is owned by corporate insiders.

Institutional Trading of Priority Technology

A number of institutional investors have recently bought and sold shares of PRTH. State Board of Administration of Florida Retirement System purchased a new position in shares of Priority Technology in the first quarter worth $91,000. Vanguard Group Inc. raised its stake in 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 acquiring an additional 156,044 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Priority Technology during the 1st quarter worth about $164,000. Virtu Financial LLC purchased a new stake in Priority Technology during the 1st quarter valued at about $50,000. Finally, Williams & Novak LLC acquired a new position in shares of Priority Technology in the second quarter valued at about $77,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

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.