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

Priority Technology (NASDAQ:PRTH)‘s stock had its “market perform” rating reaffirmed by stock analysts at Keefe, Bruyette & Woods in a note issued to investors on Friday,Benzinga reports. They presently have a $9.00 price objective on the stock, up from their previous price objective of $5.00. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 28.76% from the stock’s current price.

Separately, B. Riley lifted 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.

Priority Technology Price Performance

Priority Technology stock opened at $6.99 on Friday. The firm has a market capitalization of $537.04 million, a price-to-earnings ratio of -10.75 and a beta of 1.01. The company’s 50 day simple moving average is $6.12 and its 200 day simple moving average is $5.14. Priority Technology has a fifty-two week low of $2.79 and a fifty-two week high of $7.80.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share 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 for the quarter.

Insiders Place Their Bets

In other news, CEO Thomas Charles Priore sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $5.08, for a total value of $81,280.00. Following the completion of the transaction, the chief executive officer now owns 34,301,608 shares in the company, valued at $174,252,168.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Sean Kiewiet sold 5,700 shares of Priority Technology stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $5.11, for a total value of $29,127.00. Following the sale, the insider now owns 1,055,158 shares of the company’s stock, valued at approximately $5,391,857.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Charles Priore sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $5.08, for a total value of $81,280.00. Following the transaction, the chief executive officer now directly owns 34,301,608 shares of the company’s stock, valued at approximately $174,252,168.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,498 shares of company stock worth $368,761. Company insiders own 76.30% of the company’s stock.

Institutional Trading of Priority Technology

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Priority Technology by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after buying an additional 156,044 shares during the last quarter. Rebalance LLC bought a new position in shares of Priority Technology in the 3rd quarter valued at about $4,822,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Priority Technology in the second quarter valued at about $301,000. Jacobs Levy Equity Management Inc. bought a new stake in Priority Technology during the first quarter worth about $164,000. Finally, Renaissance Technologies LLC acquired a new position in Priority Technology during the second quarter valued at approximately $202,000. Institutional investors own 11.52% of the company’s stock.

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.