Priority Technology (NASDAQ:PRTH) Sees Strong Trading Volume - Time to Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 257,981 shares changed hands during trading, a decline of 15% from the previous session's volume of 304,159 shares.The stock last traded at $8.01 and had previously closed at $9.57.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Lake Street Capital raised their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a "buy" rating in a report on Friday, November 22nd. B. Riley lifted their price objective 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, Keefe, Bruyette & Woods upped their target price on shares of Priority Technology from $9.00 to $10.00 and gave the company a "market perform" rating in a research report on Friday, November 22nd.

Priority Technology Price Performance

The stock has a market capitalization of $622.22 million, a PE ratio of -19.19 and a beta of 1.17. The firm has a fifty day moving average price of $9.59 and a two-hundred day moving average price of $7.06.

Insider Buying and Selling at Priority Technology

In other news, insider Sean Kiewiet sold 22,178 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $10.01, for a total transaction of $222,001.78. Following the completion of the sale, the insider now directly owns 1,009,675 shares of the company's stock, valued at approximately $10,106,846.75. The trade was a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 231,215 shares of company stock valued at $2,360,486 in the last quarter. 76.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRTH. Renaissance Technologies LLC bought a new position in Priority Technology in the 2nd quarter worth about $202,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Priority Technology in the second quarter valued at approximately $301,000. Rebalance LLC bought a new position in Priority Technology in the third quarter worth approximately $4,822,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Priority Technology during the 3rd quarter worth $112,000. Finally, Charles Schwab Investment Management Inc. raised its position in 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 in the last quarter. 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.