Priority Technology (NASDAQ:PRTH) Sees Unusually-High Trading Volume - Here's Why

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) shares saw an uptick in trading volume on Tuesday . 139,655 shares traded hands during mid-day trading, an increase of 71% from the previous session's volume of 81,510 shares.The stock last traded at $10.09 and had previously closed at $9.22.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PRTH shares. Keefe, Bruyette & Woods lifted their price objective 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. B. Riley upped their price target on Priority Technology from $13.00 to $16.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, Lake Street Capital raised 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.

Priority Technology Stock Up 17.5 %

The business's 50 day simple moving average is $7.85 and its 200 day simple moving average is $6.32. The company has a market capitalization of $836.05 million, a PE ratio of -25.79 and a beta of 1.20.

Insider Activity at Priority Technology

In related news, insider Sean Kiewiet sold 4,483 shares of the company's stock in a transaction on Thursday, October 3rd. The stock was 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 approximately $6,390,948. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 76,766 shares of company stock worth $656,166. 76.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Priority Technology

Several institutional investors and hedge funds have recently bought and sold shares of PRTH. Virtu Financial LLC acquired a new stake in shares of Priority Technology during the third quarter worth approximately $91,000. Barclays PLC boosted its stake in shares of Priority Technology by 255.9% during the 3rd quarter. Barclays PLC now owns 26,064 shares of the company's stock valued at $178,000 after buying an additional 18,741 shares during the period. Geode Capital Management LLC grew its holdings in shares of Priority Technology by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company's stock valued at $2,707,000 after acquiring an additional 21,598 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Priority Technology by 6.1% in the third quarter. Jane Street Group LLC now owns 22,347 shares of the company's stock worth $153,000 after acquiring an additional 1,293 shares during the last quarter. Finally, Corsair Capital Management L.P. raised its holdings in shares of 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 acquiring an additional 10,000 shares in the last quarter. 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.