Priority Technology (NASDAQ:PRTH) Shares Gap Up - Still a Buy?

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $8.95, but opened at $9.40. Priority Technology shares last traded at $9.05, with a volume of 25,724 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PRTH shares. Lake Street Capital upped their target price on shares of Priority Technology from $8.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods upped their price target on shares of Priority Technology from $9.00 to $10.00 and gave the stock a "market perform" rating in a report on Friday, November 22nd. Finally, B. Riley lifted their price objective on Priority Technology from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Monday, November 25th.

Priority Technology Price Performance

The firm has a market capitalization of $666.99 million, a PE ratio of -20.57 and a beta of 1.20. The business's 50 day moving average is $7.74 and its two-hundred day moving average is $6.23.

Insider Transactions at Priority Technology

In other news, insider Sean Kiewiet sold 11,664 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $6.61, for a total transaction of $77,099.04. Following the transaction, the insider now directly owns 1,073,494 shares in the company, valued at approximately $7,095,795.34. This represents a 1.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 76,766 shares of company stock valued at $656,166 in the last quarter. Insiders own 76.30% of the company's stock.

Institutional Trading of Priority Technology

Several hedge funds and other institutional investors have recently bought and sold shares of PRTH. Virtu Financial LLC bought a new position in shares of Priority Technology during the third quarter valued at about $91,000. BNP Paribas Financial Markets boosted its holdings in Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company's stock valued at $109,000 after acquiring an additional 6,096 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Priority Technology during the 3rd quarter worth approximately $112,000. Jane Street Group LLC increased its stake in Priority Technology by 6.1% in the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company's stock worth $153,000 after purchasing an additional 1,293 shares during the period. Finally, Barclays PLC grew its holdings in Priority Technology by 255.9% in the 3rd quarter. Barclays PLC now owns 26,064 shares of the company's stock worth $178,000 after acquiring an additional 18,741 shares during 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.