Priority Technology (NASDAQ:PRTH) Sets New 1-Year High – Still a Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $12.32 and last traded at $12.26, with a volume of 116011 shares trading hands. The stock had previously closed at $11.49.

Analysts Set New Price Targets

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

Priority Technology Trading Up 5.5 %

The firm has a market capitalization of $935.64 million, a price-to-earnings ratio of -28.86 and a beta of 1.20. The business’s fifty day moving average price is $8.22 and its 200 day moving average price is $6.51.

Insider Buying and Selling at Priority Technology

In other news, insider Sean Kiewiet sold 5,700 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $5.11, for a total value of $29,127.00. Following the completion of the transaction, the insider now owns 1,055,158 shares in the company, valued at $5,391,857.38. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have sold 235,698 shares of company stock valued at $2,387,384. 76.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Priority Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in Priority Technology during the third quarter worth approximately $91,000. BNP Paribas Financial Markets lifted its position in Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after acquiring an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Priority Technology in the third quarter valued at approximately $112,000. Jane Street Group LLC raised its stake in shares of Priority Technology by 6.1% during the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after purchasing an additional 1,293 shares during the period. Finally, Barclays PLC lifted its position in shares of Priority Technology by 255.9% during the third quarter. Barclays PLC now owns 26,064 shares of the company’s stock worth $178,000 after purchasing an additional 18,741 shares in the last quarter. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

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.