Short Interest in Priority Technology Holdings, Inc. (NASDAQ:PRTH) Decreases By 14.8%

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 279,000 shares, a decline of 14.8% from the February 13th total of 327,500 shares. Based on an average trading volume of 631,400 shares, the short-interest ratio is presently 0.4 days. Currently, 1.3% of the company's shares are sold short.

Analysts Set New Price Targets

PRTH has been the subject of several recent analyst reports. B. Riley upped their target price on shares of Priority Technology from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Monday, November 25th. TD Cowen upgraded shares of Priority Technology to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $12.00 price objective (down previously from $14.00) on shares of Priority Technology in a research note on Friday, March 7th.

Insiders Place Their Bets

In other Priority Technology news, insider Sean Kiewiet sold 170,596 shares of the firm's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.60, for a total transaction of $1,808,317.60. Following the transaction, the insider now owns 711,853 shares in the company, valued at approximately $7,545,641.80. This trade represents a 19.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Charles Priore sold 105,833 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total value of $787,397.52. Following the completion of the sale, the chief executive officer now directly owns 33,919,486 shares of the company's stock, valued at approximately $252,360,975.84. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,293,027 shares of company stock valued at $39,919,204. Company insiders own 76.30% of the company's stock.

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Institutional Investors Weigh In On Priority Technology

Several large investors have recently made changes to their positions in PRTH. National Bank of Canada FI acquired a new position in Priority Technology in the 4th quarter worth $56,000. Deutsche Bank AG bought a new stake in shares of Priority Technology in the fourth quarter valued at about $60,000. Virtu Financial LLC acquired a new position in shares of Priority Technology during the third quarter worth about $91,000. SG Americas Securities LLC acquired a new position in shares of Priority Technology during the fourth quarter worth about $100,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Priority Technology by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,593 shares of the company's stock worth $101,000 after buying an additional 3,006 shares in the last quarter. Institutional investors own 11.52% of the company's stock.

Priority Technology Stock Performance

NASDAQ PRTH traded down $0.14 during trading hours on Friday, reaching $7.89. 799,389 shares of the company's stock were exchanged, compared to its average volume of 237,970. The company has a market capitalization of $627.40 million, a price-to-earnings ratio of -18.79 and a beta of 0.99. The company's 50-day moving average is $9.50 and its two-hundred day moving average is $8.48. Priority Technology has a one year low of $2.82 and a one year high of $12.47.

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.