Priority Technology (NASDAQ:PRTH) Stock Rating Upgraded by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Priority Technology (NASDAQ:PRTH - Free Report) from a market perform rating to an outperform rating in a research note released on Thursday morning, MarketBeat.com reports. The firm currently has $14.00 price target on the stock, up from their prior price target of $10.00.

Several other research analysts also recently issued reports on PRTH. B. Riley boosted their price objective on shares of Priority Technology from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Monday, November 25th. 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 research note on Friday, November 22nd.

Priority Technology Price Performance

Shares of NASDAQ PRTH traded up $0.24 during trading hours on Thursday, hitting $8.90. 1,461,454 shares of the company's stock were exchanged, compared to its average volume of 965,605. The stock has a market capitalization of $687.08 million, a price-to-earnings ratio of -21.19 and a beta of 1.17. The company's 50-day moving average price is $9.66 and its 200-day moving average price is $7.08. Priority Technology has a 1-year low of $2.82 and a 1-year high of $12.44.

Insider Buying and Selling

In other Priority Technology news, insider Sean Kiewiet sold 5,700 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $5.11, for a total transaction of $29,127.00. Following the sale, the insider now directly owns 1,055,158 shares of the company's stock, valued at approximately $5,391,857.38. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 231,215 shares of company stock worth $2,360,486 in the last quarter. 76.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC acquired a new position in Priority Technology in the second quarter worth $202,000. Rebalance LLC acquired a new stake in Priority Technology in the 3rd quarter valued at about $4,822,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Priority Technology in the third quarter worth about $112,000. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 7,719 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. increased its holdings in shares of Priority Technology by 17.0% in the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company's stock valued at $455,000 after purchasing an additional 9,675 shares in the last quarter. 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.