Priority Technology’s (PRTH) Outperform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their outperform rating on shares of Priority Technology (NASDAQ:PRTH) in a research note issued to investors on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a $12.00 price objective on the stock, down from their prior price objective of $14.00.

PRTH has been the subject of several other research reports. B. Riley raised their price target on shares of 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 raised their price target on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 22nd.

Priority Technology Price Performance

NASDAQ:PRTH opened at $7.66 on Friday. Priority Technology has a one year low of $2.82 and a one year high of $12.47. The firm’s 50 day simple moving average is $10.28 and its 200 day simple moving average is $8.34. The company has a market cap of $591.34 million, a PE ratio of -18.24 and a beta of 0.99.

Insider Activity

In other news, Director John Vito Priore sold 3,454,575 shares of Priority Technology stock in a transaction on Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $25,702,038.00. Following the completion of the sale, the director now owns 5,314,430 shares in the company, valued at $39,539,359.20. The trade was a 39.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Ranjana Ram sold 6,615 shares of Priority Technology stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $49,215.60. Following the completion of the sale, the chief operating officer now owns 686,389 shares of the company’s stock, valued at $5,106,734.16. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,293,227 shares of company stock worth $39,921,204 in the last quarter. 76.30% of the stock is owned by corporate insiders.

Institutional Trading of Priority Technology

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its stake in shares of Priority Technology by 255.9% in the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after acquiring an additional 18,741 shares in the last quarter. Jane Street Group LLC increased its stake in Priority Technology by 6.1% during the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after purchasing an additional 1,293 shares in the last quarter. Geode Capital Management LLC increased its stake in Priority Technology by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock valued at $2,707,000 after purchasing an additional 21,598 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Priority Technology by 15.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock valued at $386,000 after purchasing an additional 7,719 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Priority Technology by 273.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock valued at $232,000 after purchasing an additional 24,811 shares in the last quarter. 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.