Priority Technology (NASDAQ:PRTH) Receives Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Priority Technology (NASDAQ:PRTH) in a report issued on Friday,Benzinga reports. They currently have a $9.00 target price on the stock, up from their prior target price of $5.00.

Separately, B. Riley lifted their price target on shares of Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd.

Priority Technology Stock Up 5.4 %

Shares of PRTH traded up $0.36 during mid-day trading on Friday, reaching $6.99. 93,299 shares of the stock traded hands, compared to its average volume of 50,042. The firm has a market cap of $537.04 million, a price-to-earnings ratio of -10.75 and a beta of 1.01. The stock has a fifty day simple moving average of $6.12 and a 200 day simple moving average of $5.14. Priority Technology has a 12-month low of $2.79 and a 12-month high of $7.80.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) EPS for the quarter. Priority Technology had a negative return on equity of 9.60% and a net margin of 0.74%. The firm had revenue of $219.87 million during the quarter.

Insider Buying and Selling at Priority Technology

In other news, CEO Thomas Charles Priore sold 16,000 shares of Priority Technology stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $5.08, for a total transaction of $81,280.00. Following the transaction, the chief executive officer now directly owns 34,301,608 shares in the company, valued at approximately $174,252,168.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Priority Technology news, CEO Thomas Charles Priore sold 16,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $5.08, for a total transaction of $81,280.00. Following the sale, the chief executive officer now owns 34,301,608 shares in the company, valued at approximately $174,252,168.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.13, for a total transaction of $61,300.00. Following the transaction, the chief accounting officer now owns 11,587 shares in the company, valued at approximately $71,028.31. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,498 shares of company stock valued at $368,761 in the last quarter. Corporate insiders own 76.30% of the company’s stock.

Institutional Investors Weigh In On Priority Technology

Large investors have recently bought and sold shares of the business. Rebalance LLC bought a new stake in Priority Technology during the third quarter worth approximately $4,822,000. Vanguard Group Inc. lifted its stake in shares of Priority Technology by 25.7% in the first quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after buying an additional 156,044 shares during the last quarter. Pekin Hardy Strauss Inc. bought a new stake in shares of Priority Technology during the 2nd quarter worth $301,000. Jacobs Levy Equity Management Inc. acquired a new position in Priority Technology in the 1st quarter valued at $164,000. Finally, Renaissance Technologies LLC acquired a new position in Priority Technology during the 2nd quarter worth $202,000. 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.