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

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) saw strong trading volume on Friday . 626,519 shares were traded during mid-day trading, an increase of 153% from the previous session's volume of 248,032 shares.The stock last traded at $6.80 and had previously closed at $7.43.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRTH. TD Cowen raised Priority Technology to a "strong-buy" rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $12.00 target price (down previously from $14.00) on shares of Priority Technology in a research note on Friday, March 7th.

Priority Technology Stock Performance

The stock has a market capitalization of $586.06 million, a PE ratio of -17.55 and a beta of 0.99. The company has a 50 day moving average of $9.31 and a two-hundred day moving average of $8.55.

Insider Transactions at Priority Technology

In other news, COO Ranjana Ram sold 6,615 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total value of $49,215.60. Following the completion of the transaction, the chief operating officer now owns 686,389 shares in the company, valued at $5,106,734.16. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Charles Priore sold 294,167 shares of the company's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $2,188,602.48. Following the completion of the sale, the chief executive officer now directly owns 34,025,319 shares in the company, valued at approximately $253,148,373.36. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,122,431 shares of company stock valued at $38,110,887. 76.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Priority Technology

A number of large investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. acquired a new stake in shares of Priority Technology in the 4th quarter valued at about $684,000. Two Sigma Advisers LP acquired a new stake in shares of Priority Technology during the fourth quarter worth $327,000. Two Sigma Investments LP acquired a new stake in shares of Priority Technology during the fourth quarter worth $882,000. Steamboat Capital Partners LLC acquired a new stake in Priority Technology during the fourth quarter worth about $9,382,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Priority Technology during the 4th quarter worth approximately $183,000. Institutional investors and hedge funds 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.