Priority Technology (NASDAQ:PRTH) Trading 5.8% Higher - Still a Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) shares shot up 5.8% on Monday . The company traded as high as $9.09 and last traded at $9.09. 128,629 shares changed hands during mid-day trading, an increase of 59% from the average session volume of 80,814 shares. The stock had previously closed at $8.59.

Analyst Upgrades and Downgrades

PRTH has been the subject of a number of analyst reports. B. Riley upped their price target on Priority Technology from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods upped their target price on Priority Technology from $9.00 to $10.00 and gave the company a "market perform" rating in a report on Friday, November 22nd. Finally, Lake Street Capital raised their target price 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 Trading Up 7.3 %

The firm has a market cap of $711.77 million, a price-to-earnings ratio of -21.95 and a beta of 1.20. The stock's fifty day moving average price is $7.79 and its 200-day moving average price is $6.28.

Insider Buying and Selling

In other Priority Technology news, insider Sean Kiewiet sold 4,483 shares of the company's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $6.00, for a total value of $26,898.00. Following the transaction, the insider now owns 1,065,158 shares of the company's stock, valued at $6,390,948. This represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 76,766 shares of company stock worth $656,166. Company insiders own 76.30% of the company's stock.

Institutional Investors Weigh In On Priority Technology

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of Priority Technology during the 3rd quarter worth approximately $91,000. BNP Paribas Financial Markets lifted its stake in Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company's stock worth $109,000 after purchasing an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Priority Technology during the third quarter worth $112,000. Jane Street Group LLC grew 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 valued at $153,000 after buying an additional 1,293 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Priority Technology by 255.9% in 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. 11.52% of the stock is currently owned by institutional investors and hedge funds.

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.