Priority Technology (NASDAQ:PRTH - Get Free Report)'s stock had its "market perform" rating reissued by Keefe, Bruyette & Woods in a report released on Friday,Benzinga reports. They currently have a $9.00 price target on the stock, up from their previous price target of $5.00. Keefe, Bruyette & Woods' price target would indicate a potential upside of 28.76% from the company's previous close.
Separately, B. Riley increased their target price on Priority Technology from $11.00 to $13.00 and gave the company a "buy" rating in a report on Monday, September 23rd.
Read Our Latest Analysis on Priority Technology
Priority Technology Stock Performance
Shares of PRTH traded up $0.36 during mid-day trading on Friday, hitting $6.99. 93,299 shares of the company traded hands, compared to its average volume of 50,042. Priority Technology has a 1 year low of $2.79 and a 1 year high of $7.80. The stock has a 50-day moving average price of $6.12 and a two-hundred day moving average price of $5.14. The stock has a market cap of $537.04 million, a price-to-earnings ratio of -10.75 and a beta of 1.01.
Priority Technology (NASDAQ:PRTH - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter. Priority Technology had a net margin of 0.74% and a negative return on equity of 9.60%. The firm had revenue of $219.87 million for the quarter.
Insider Buying and Selling at Priority Technology
In related news, CEO Thomas Charles Priore sold 16,000 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $5.08, for a total value of $81,280.00. Following the transaction, the chief executive officer now directly owns 34,301,608 shares of the company's stock, valued at approximately $174,252,168.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Thomas Charles Priore sold 16,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $5.08, for a total value of $81,280.00. Following the completion of the sale, the chief executive officer now directly owns 34,301,608 shares of the company's stock, valued at approximately $174,252,168.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sean Kiewiet sold 11,664 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $6.61, for a total transaction of $77,099.04. Following the sale, the insider now owns 1,073,494 shares in the company, valued at approximately $7,095,795.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,498 shares of company stock valued at $368,761. Insiders own 76.30% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of PRTH. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Priority Technology during the 3rd quarter valued at approximately $112,000. Rebalance LLC bought a new stake in shares of Priority Technology during the third quarter valued at approximately $4,822,000. Pekin Hardy Strauss Inc. purchased a new position in shares of Priority Technology in the second quarter worth $301,000. Renaissance Technologies LLC bought a new position in shares of Priority Technology during the second quarter worth $202,000. Finally, Williams & Novak LLC bought a new position in shares of Priority Technology during the 2nd quarter valued at about $77,000. Institutional investors own 11.52% of the company's stock.
Priority Technology Company Profile
(
Get Free Report)
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.
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