Priority Technology (NASDAQ:PRTH) Price Target Raised to $10.00

Priority Technology (NASDAQ:PRTH - Free Report) had its price objective raised by Keefe, Bruyette & Woods from $9.00 to $10.00 in a report published on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

PRTH has been the topic of a number of other research reports. Lake Street Capital upped their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a "buy" rating in a research report on Friday. B. Riley upped their price objective on shares of Priority Technology from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Monday, September 23rd.

Priority Technology Trading Down 4.0 %

PRTH stock traded down $0.33 during midday trading on Friday, hitting $8.02. 574,825 shares of the company's stock were exchanged, compared to its average volume of 141,377. Priority Technology has a 1-year low of $2.79 and a 1-year high of $9.25. The stock has a market capitalization of $618.87 million, a PE ratio of -19.10 and a beta of 1.01. The business has a 50-day simple moving average of $6.63 and a two-hundred day simple moving average of $5.49.

Insiders Place Their Bets

In other Priority Technology news, insider Sean Kiewiet sold 5,700 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $5.11, for a total transaction of $29,127.00. Following the sale, the insider now owns 1,055,158 shares in the company, valued at $5,391,857.38. This represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.13, for a total value of $61,300.00. Following the completion of the transaction, the chief accounting officer now owns 11,587 shares of the company's stock, valued at $71,028.31. The trade was a 46.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,302 shares of company stock worth $286,501 over the last three months. Company insiders own 76.30% of the company's stock.

Institutional Trading of Priority Technology

Several hedge funds have recently added to or reduced their stakes in PRTH. Vanguard Group Inc. boosted its position in shares of Priority Technology by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company's stock worth $2,494,000 after acquiring an additional 156,044 shares in the last quarter. Rebalance LLC purchased a new position in Priority Technology in the third quarter valued at approximately $4,822,000. Jacobs Levy Equity Management Inc. acquired a new stake in Priority Technology during the first quarter worth approximately $164,000. Renaissance Technologies LLC purchased a new stake in shares of Priority Technology during the 2nd quarter worth approximately $202,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Priority Technology in the 1st quarter valued at $91,000. 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.