Priority Technology (NASDAQ:PRTH) Stock Price Down 3.9% – What’s Next?

Priority Technology Holdings, Inc. (NASDAQ:PRTH) dropped 3.9% on Friday . The company traded as low as $8.17 and last traded at $8.30. Approximately 42,968 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 79,408 shares. The stock had previously closed at $8.64.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PRTH. Keefe, Bruyette & Woods upped their target price on Priority Technology from $9.00 to $10.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Lake Street Capital raised their target price on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, B. Riley boosted their price target on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 25th.

Priority Technology Stock Performance

The company has a market cap of $663.13 million, a PE ratio of -20.45 and a beta of 1.20. The company’s 50 day moving average price is $7.79 and its 200-day moving average price is $6.27.

Insider Buying and Selling at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 4,483 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $6.00, for a total transaction of $26,898.00. Following the sale, the insider now directly owns 1,065,158 shares of the company’s stock, valued at $6,390,948. This represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 76,766 shares of company stock valued at $656,166. Company insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

Several large investors have recently modified their holdings of PRTH. Jane Street Group LLC lifted its stake in shares of Priority Technology by 6.1% during the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after buying an additional 1,293 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after acquiring an additional 6,096 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Priority Technology by 15.8% during the third 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 in the last quarter. Pekin Hardy Strauss Inc. boosted its holdings in shares of Priority Technology by 17.0% in the third 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 during the period. Finally, Corsair Capital Management L.P. grew its position in shares of Priority Technology by 10.5% in the third quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other 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.