Priority Technology (NASDAQ:PRTH) Sees Strong Trading Volume – Time to Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH) shares saw unusually-high trading volume on Tuesday . Approximately 139,655 shares traded hands during trading, an increase of 71% from the previous session’s volume of 81,510 shares.The stock last traded at $10.09 and had previously closed at $9.22.

Wall Street Analyst Weigh In

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

Priority Technology Stock Up 14.8 %

The firm’s 50-day moving average price is $7.85 and its 200 day moving average price is $6.32. The firm has a market cap of $816.75 million, a P/E ratio of -25.19 and a beta of 1.20.

Insider Buying and Selling at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 6,467 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $10.10, for a total transaction of $65,316.70. Following the completion of the transaction, the insider now owns 909,894 shares in the company, valued at approximately $9,189,929.40. The trade was a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 76,766 shares of company stock valued at $656,166 in the last ninety days. Company insiders own 76.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PRTH. Rebalance LLC bought a new position in Priority Technology in the 3rd quarter valued at about $4,822,000. Pekin Hardy Strauss Inc. bought a new stake in shares of Priority Technology during the 2nd quarter worth about $301,000. Renaissance Technologies LLC acquired a new stake in shares of Priority Technology in the 2nd quarter worth approximately $202,000. Geode Capital Management LLC boosted its holdings in shares of Priority Technology by 5.8% in the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock valued at $2,707,000 after acquiring an additional 21,598 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Priority Technology by 255.9% during the third quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after acquiring an additional 18,741 shares during the period. 11.52% of the stock is owned by institutional investors and hedge funds.

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.