Priority Technology (NASDAQ:PRTH) Earns "Outperform" Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their outperform rating on shares of Priority Technology (NASDAQ:PRTH - Free Report) in a research note published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a $12.00 price target on the stock, down from their prior price target of $14.00.

A number of other research firms have also recently commented on PRTH. Lake Street Capital upped their price objective on Priority Technology from $8.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. B. Riley upped their price target on shares of Priority Technology from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Monday, November 25th.

Priority Technology Stock Performance

Shares of PRTH stock traded up $0.16 during trading hours on Friday, reaching $7.32. The company had a trading volume of 618,858 shares, compared to its average volume of 221,540. The firm has a market cap of $565.09 million, a PE ratio of -17.43 and a beta of 0.99. The business has a fifty day moving average price of $10.19 and a 200-day moving average price of $8.36. Priority Technology has a one year low of $2.82 and a one year high of $12.47.

Insider Buying and Selling

In other news, Director John Vito Priore sold 3,454,575 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $25,702,038.00. Following the completion of the sale, the director now directly owns 5,314,430 shares of the company's stock, valued at $39,539,359.20. This represents a 39.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sean Kiewiet sold 170,596 shares of the business's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $10.60, for a total value of $1,808,317.60. Following the completion of the transaction, the insider now owns 711,853 shares in the company, valued at $7,545,641.80. The trade was a 19.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,293,227 shares of company stock valued at $39,921,204. 76.30% of the stock is owned by company insiders.

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Hedge Funds Weigh In On Priority Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Priority Technology in the 3rd quarter worth $112,000. Charles Schwab Investment Management Inc. increased its position in shares of Priority Technology by 15.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company's stock valued at $386,000 after purchasing an additional 7,719 shares during the last quarter. Pekin Hardy Strauss Inc. raised its holdings in Priority Technology by 17.0% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company's stock valued at $455,000 after buying an additional 9,675 shares during the period. BNP Paribas Financial Markets lifted its position in Priority Technology by 61.7% in the third 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 during the last quarter. Finally, Corsair Capital Management L.P. boosted its stake in Priority Technology by 10.5% during the third quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company's stock worth $720,000 after buying an additional 10,000 shares during the period. 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.