Priority Technology (NASDAQ:PRTH) Upgraded by Keefe, Bruyette & Woods to “Outperform” Rating

Priority Technology (NASDAQ:PRTH) was upgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $14.00 target price on the stock, up from their prior target price of $10.00. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 75.00% from the stock’s current price.

Several other analysts have also recently weighed in on PRTH. B. Riley boosted their price target on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Lake Street Capital upped their price target on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 22nd.

Priority Technology Stock Down 0.7 %

Shares of NASDAQ:PRTH traded down $0.06 during trading on Thursday, hitting $8.00. 2,305,771 shares of the company were exchanged, compared to its average volume of 584,081. Priority Technology has a 1-year low of $2.82 and a 1-year high of $12.44. The business’s 50 day moving average is $9.59 and its 200-day moving average is $7.06. The company has a market capitalization of $617.60 million, a P/E ratio of -19.05 and a beta of 1.17.

Insider Activity

In other Priority Technology news, insider Sean Kiewiet sold 22,178 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $10.01, for a total transaction of $222,001.78. Following the completion of the sale, the insider now directly owns 1,009,675 shares of the company’s stock, valued at approximately $10,106,846.75. The trade was a 2.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 231,215 shares of company stock worth $2,360,486. Company insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC lifted its holdings in Priority Technology by 6.1% during the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after acquiring an additional 1,293 shares during the period. BNP Paribas Financial Markets grew its position in Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after buying an additional 6,096 shares during the period. Charles Schwab Investment Management Inc. raised its position in Priority Technology by 15.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after acquiring an additional 7,719 shares during the period. Pekin Hardy Strauss Inc. boosted its stake in Priority Technology by 17.0% in the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock valued at $455,000 after acquiring an additional 9,675 shares during the last quarter. Finally, Corsair Capital Management L.P. raised its holdings in shares of Priority Technology by 10.5% in the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 11.52% of the company’s stock.

About Priority Technology

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.