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

Priority Technology (NASDAQ:PRTH - Free Report) had its price objective upped by Lake Street Capital from $8.00 to $13.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

PRTH has been the topic of a number of other research reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $9.00 price objective (up previously from $5.00) on shares of Priority Technology in a research report on Friday, November 8th. B. Riley lifted their price target on Priority Technology from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Monday, September 23rd.

Priority Technology Stock Performance

Shares of NASDAQ:PRTH traded down $0.33 during trading on Friday, reaching $8.02. The stock had a trading volume of 574,824 shares, compared to its average volume of 59,193. Priority Technology has a 1-year low of $2.79 and a 1-year high of $9.25. The stock has a market cap of $618.90 million, a PE ratio of -21.12 and a beta of 1.01. The business has a fifty day moving average price of $6.59 and a 200-day moving average price of $5.46.

Insider Activity at Priority Technology

In other Priority Technology news, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.13, for a total transaction of $61,300.00. Following the completion of the sale, the chief accounting officer now directly owns 11,587 shares in the company, valued at $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 is available at the SEC website. Also, insider Sean Kiewiet sold 4,954 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $5.41, for a total transaction of $26,801.14. Following the completion of the sale, the insider now directly owns 1,085,158 shares in the company, valued at $5,870,704.78. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,302 shares of company stock worth $286,501. Insiders own 76.30% of the company's stock.

Institutional Trading of Priority Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Priority Technology during the third quarter worth about $91,000. Williams & Novak LLC purchased a new stake in Priority Technology during the 2nd quarter worth approximately $77,000. BNP Paribas Financial Markets lifted 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 worth $109,000 after buying an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Priority Technology in the 3rd quarter valued at approximately $112,000. Finally, Jane Street Group LLC grew its stake in shares of Priority Technology by 6.1% in 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 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.