Priority Technology (NASDAQ:PRTH) Sees Large Volume Increase – Here’s Why

Priority Technology Holdings, Inc. (NASDAQ:PRTH) shares saw unusually-strong trading volume on Wednesday . Approximately 257,981 shares traded hands during mid-day trading, a decline of 15% from the previous session’s volume of 304,159 shares.The stock last traded at $8.01 and had previously closed at $9.57.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised Priority Technology from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $10.00 to $14.00 in a research note on Thursday. Lake Street Capital increased their price objective on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, B. Riley boosted their target price on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 25th.

Priority Technology Price Performance

The stock has a 50-day moving average price of $9.62 and a 200 day moving average price of $7.07.

Insider Transactions at Priority Technology

In related news, insider Sean Kiewiet sold 5,700 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $5.11, for a total value of $29,127.00. Following the transaction, the insider now owns 1,055,158 shares in the company, valued at approximately $5,391,857.38. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 231,215 shares of company stock worth $2,360,486. 76.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Priority Technology

A number of institutional investors have recently made changes to their positions in PRTH. Ritholtz Wealth Management grew its position in shares of Priority Technology by 99.1% during the 4th quarter. Ritholtz Wealth Management now owns 24,780 shares of the company’s stock valued at $291,000 after buying an additional 12,336 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Priority Technology by 273.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock worth $232,000 after purchasing an additional 24,811 shares during the period. Virtu Financial LLC bought a new stake in shares of Priority Technology in the 3rd quarter worth approximately $91,000. Barclays PLC boosted its position in Priority Technology by 255.9% during the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after purchasing an additional 18,741 shares during the period. Finally, Geode Capital Management LLC grew its stake in Priority Technology by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after buying an additional 21,598 shares during the last quarter. 11.52% of the stock is currently owned by institutional investors.

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.