Priority Technology (NASDAQ:PRTH) Sees Unusually-High Trading Volume – Still a Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH) shares saw unusually-high trading volume on Wednesday . Approximately 76,116 shares changed hands during mid-day trading, an increase of 19% from the previous session’s volume of 64,047 shares.The stock last traded at $9.57 and had previously closed at $10.02.

Wall Street Analysts Forecast Growth

PRTH has been the topic of several analyst reports. B. Riley raised their target price on Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday. Lake Street Capital raised their target price on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods increased their price target on Priority Technology from $9.00 to $10.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd.

Priority Technology Stock Performance

The business has a 50 day simple moving average of $6.89 and a 200-day simple moving average of $5.66.

Insider Buying and Selling at Priority Technology

In other news, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 11,587 shares of the company’s stock, valued at $71,028.31. This trade represents a 46.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sean Kiewiet sold 7,201 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.90, for a total value of $42,485.90. Following the sale, the insider now directly owns 1,094,652 shares of the company’s stock, valued at approximately $6,458,446.80. This represents a 0.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,302 shares of company stock valued at $286,501. 76.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Priority Technology

Several large investors have recently modified their holdings of PRTH. Virtu Financial LLC bought a new stake in shares of Priority Technology during the 1st quarter worth $50,000. Williams & Novak LLC purchased a new stake in shares of Priority Technology in the second quarter valued at $77,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Priority Technology in the first quarter valued at $91,000. BNP Paribas Financial Markets lifted its holdings in shares of Priority Technology by 61.7% in the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after purchasing an additional 6,096 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Priority Technology in the third quarter valued at $112,000. 11.52% of the stock is 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.