Kovack Advisors Inc. Has $196,000 Stock Position in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Kovack Advisors Inc. lessened its position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,700 shares of the company’s stock after selling 2,400 shares during the quarter. Kovack Advisors Inc.’s holdings in Priority Technology were worth $196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PRTH. Virtu Financial LLC acquired a new stake in Priority Technology during the first quarter worth $50,000. Williams & Novak LLC acquired a new stake in shares of Priority Technology during the 2nd quarter valued at about $77,000. State Board of Administration of Florida Retirement System acquired a new position in Priority Technology in the first quarter worth about $91,000. Jacobs Levy Equity Management Inc. bought a new position in Priority Technology during the first quarter worth about $164,000. Finally, Renaissance Technologies LLC acquired a new stake in Priority Technology during the second quarter valued at approximately $202,000. 11.52% of the stock is currently owned by institutional investors.

Priority Technology Stock Down 2.8 %

NASDAQ:PRTH opened at $7.99 on Friday. The firm has a market cap of $616.56 million, a PE ratio of -19.02 and a beta of 1.01. Priority Technology Holdings, Inc. has a 12 month low of $2.79 and a 12 month high of $8.90. The company’s 50-day moving average price is $6.37 and its two-hundred day moving average price is $5.31.

Insider Activity

In related news, insider Sean Kiewiet sold 11,664 shares of Priority Technology stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $6.61, for a total value of $77,099.04. Following the completion of the transaction, the insider now directly owns 1,073,494 shares of the company’s stock, valued at $7,095,795.34. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Charles Priore sold 16,000 shares of the 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 directly owns 34,301,608 shares in the company, valued at approximately $174,252,168.64. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,498 shares of company stock worth $368,761. Insiders own 76.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PRTH shares. B. Riley increased their target price on Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $9.00 price objective (up from $5.00) on shares of Priority Technology in a research note on Friday, November 8th.

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.