Priority Technology (NASDAQ:PRTH) Sets New 12-Month High - Should You Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.47 and last traded at $12.23, with a volume of 283172 shares traded. The stock had previously closed at $12.07.

Analyst Ratings Changes

Several research analysts have commented on PRTH shares. Keefe, Bruyette & Woods raised shares of Priority Technology from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $10.00 to $14.00 in a research note on Thursday, January 16th. B. Riley lifted their price target on shares of Priority Technology from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Finally, Lake Street Capital increased their price objective 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.

Priority Technology Stock Down 11.7 %

The firm has a market cap of $805.95 million, a PE ratio of -24.86 and a beta of 1.17. The business has a 50 day simple moving average of $10.34 and a two-hundred day simple moving average of $7.97.

Insider Activity at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 6,467 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $10.10, for a total value of $65,316.70. Following the completion of the sale, the insider now directly owns 909,894 shares in the company, valued at approximately $9,189,929.40. This represents a 0.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Vito Priore sold 1,242,856 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total value of $9,246,848.64. Following the transaction, the director now directly owns 4,071,574 shares in the company, valued at $30,292,510.56. The trade was a 23.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,343,646 shares of company stock worth $40,419,456 in the last 90 days. 76.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI bought a new position in shares of Priority Technology during the fourth quarter valued at approximately $56,000. Deutsche Bank AG purchased a new stake in Priority Technology during the fourth quarter worth $60,000. SG Americas Securities LLC purchased a new stake in Priority Technology during the fourth quarter worth $100,000. Wells Fargo & Company MN boosted its position in Priority Technology by 53.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,593 shares of the company's stock valued at $101,000 after acquiring an additional 3,006 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new position in shares of Priority Technology in the 4th quarter valued at $118,000. 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.