Priority Technology Holdings, Inc. (NASDAQ:PRTH) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. cut its holdings in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 24.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 21,600 shares of the company’s stock after selling 7,100 shares during the period. Kovack Advisors Inc.’s holdings in Priority Technology were worth $254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jane Street Group LLC boosted its position in Priority Technology by 6.1% during the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after acquiring an additional 1,293 shares during the last quarter. Rhumbline Advisers boosted its position in Priority Technology by 9.0% during the fourth quarter. Rhumbline Advisers now owns 23,706 shares of the company’s stock worth $279,000 after acquiring an additional 1,964 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Priority Technology by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 39,693 shares of the company’s stock worth $466,000 after acquiring an additional 4,366 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Priority Technology by 61.7% during the third 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in 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 during the last quarter. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Price Performance

NASDAQ:PRTH opened at $10.73 on Friday. The firm has a market capitalization of $828.33 million, a price-to-earnings ratio of -25.55 and a beta of 1.17. The company’s 50-day moving average is $10.50 and its two-hundred day moving average is $8.19. Priority Technology Holdings, Inc. has a 1-year low of $2.82 and a 1-year high of $12.47.

Insider Buying and Selling at Priority Technology

In other news, CEO Thomas Charles Priore sold 294,167 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $2,188,602.48. Following the transaction, the chief executive officer now directly owns 34,025,319 shares in the company, valued at approximately $253,148,373.36. This represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean Kiewiet sold 170,596 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $10.60, for a total transaction of $1,808,317.60. Following the completion of the transaction, the insider now owns 711,853 shares in the company, valued at approximately $7,545,641.80. This represents a 19.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,315,001 shares of company stock worth $40,132,138 in the last ninety days. 76.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PRTH shares. Lake Street Capital boosted their price target on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods upgraded shares of Priority Technology from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $10.00 to $14.00 in a report on Thursday, January 16th. Finally, B. Riley boosted their target price 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.

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.