Priority Technology Holdings, Inc. (NASDAQ:PRTH) Short Interest Down 20.4% in February

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 327,500 shares, a drop of 20.4% from the January 31st total of 411,300 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 572,800 shares, the short-interest ratio is currently 0.6 days.

Insiders Place Their Bets

In other news, COO Ranjana Ram sold 6,615 shares of Priority Technology stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total transaction of $49,215.60. Following the completion of the sale, the chief operating officer now directly owns 686,389 shares in the company, valued at approximately $5,106,734.16. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Charles Priore sold 294,167 shares of Priority Technology stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $7.44, for a total transaction of $2,188,602.48. Following the sale, the chief executive officer now owns 34,025,319 shares of the company's stock, valued at $253,148,373.36. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,293,227 shares of company stock valued at $39,921,204 in the last three months. Corporate insiders own 76.30% of the company's stock.

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Institutional Trading of Priority Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its stake in shares of Priority Technology by 255.9% in the third quarter. Barclays PLC now owns 26,064 shares of the company's stock worth $178,000 after acquiring an additional 18,741 shares during the last quarter. Jane Street Group LLC lifted its holdings in Priority Technology by 6.1% in the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its stake in Priority Technology by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company's stock worth $2,707,000 after purchasing an additional 21,598 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 buying an additional 7,719 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Priority Technology by 273.0% during the third quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company's stock worth $232,000 after buying an additional 24,811 shares in the last quarter. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Priority Technology Trading Down 1.2 %

Shares of PRTH stock traded down $0.09 during trading hours on Friday, hitting $7.66. The company's stock had a trading volume of 1,313,092 shares, compared to its average volume of 723,841. The company has a 50 day moving average of $10.28 and a 200 day moving average of $8.29. Priority Technology has a 12-month low of $2.82 and a 12-month high of $12.47. The stock has a market cap of $591.34 million, a PE ratio of -18.24 and a beta of 0.99.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PRTH shares. B. Riley increased their price objective on shares of Priority Technology from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $12.00 target price (down previously from $14.00) on shares of Priority Technology in a report on Friday. Finally, Lake Street Capital lifted their price target on Priority Technology from $8.00 to $13.00 and gave the company a "buy" rating in a report on Friday, November 22nd.

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.