Priority Technology (NASDAQ:PRTH) Sees Unusually-High Trading Volume - Should You Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) shares saw strong trading volume on Monday . 88,203 shares traded hands during trading, an increase of 0% from the previous session's volume of 88,182 shares.The stock last traded at $10.70 and had previously closed at $11.02.

Analysts Set New Price Targets

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

The company has a market cap of $887.01 million, a PE ratio of -27.36 and a beta of 1.20. The firm's 50 day moving average is $8.22 and its 200-day moving average is $6.51.

Insiders Place Their Bets

In other Priority Technology news, insider Sean Kiewiet sold 4,483 shares of Priority Technology stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $6.00, for a total transaction of $26,898.00. Following the transaction, the insider now directly owns 1,065,158 shares of the company's stock, valued at $6,390,948. The trade was a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 76,766 shares of company stock valued at $656,166. Insiders own 76.30% of the company's stock.

Institutional Trading of Priority Technology

Several institutional investors have recently made changes to their positions in the company. Rebalance LLC acquired a new stake in Priority Technology during the third quarter worth $4,822,000. Renaissance Technologies LLC purchased a new position in shares of Priority Technology during the 2nd quarter worth $202,000. Charles Schwab Investment Management Inc. grew its holdings 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 worth $386,000 after purchasing an additional 7,719 shares during the period. Pekin Hardy Strauss Inc. acquired a new stake in shares of Priority Technology during the 2nd quarter worth about $301,000. Finally, BNP Paribas Financial Markets raised its holdings in Priority Technology by 61.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company's stock valued at $109,000 after buying an additional 6,096 shares during the period. Hedge funds and other institutional investors own 11.52% of the company's stock.

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.