Priority Technology (NASDAQ:PRTH) Sees Unusually-High Trading Volume – Here’s What Happened

Priority Technology Holdings, Inc. (NASDAQ:PRTH) shares saw unusually-strong trading volume on Tuesday . Approximately 122,139 shares traded hands during mid-day trading, an increase of 81% from the previous session’s volume of 67,544 shares.The stock last traded at $9.92 and had previously closed at $9.92.

Analysts Set New Price Targets

Several analysts have commented on PRTH shares. Lake Street Capital raised their price objective on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods raised their target price on Priority Technology from $9.00 to $10.00 and gave the company a “market perform” rating in a research report on Friday, November 22nd. Finally, 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, November 25th.

Priority Technology Stock Performance

The stock has a 50-day moving average of $7.11 and a 200 day moving average of $5.85.

Insider Buying and Selling

In other Priority Technology news, insider Sean Kiewiet sold 6,467 shares of Priority Technology stock in a transaction on Friday, November 29th. The stock was sold at an average price of $10.10, for a total value of $65,316.70. Following the sale, the insider now owns 909,894 shares in the company, valued at $9,189,929.40. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction on Friday, September 13th. The shares were sold at an average price of $6.13, for a total value of $61,300.00. Following the completion of the sale, the chief accounting officer now owns 11,587 shares in the company, valued at $71,028.31. This represents a 46.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,078 shares of company stock worth $710,581. 76.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Priority Technology

A number of institutional investors have recently modified their holdings of PRTH. Virtu Financial LLC acquired a new stake in shares of Priority Technology in the first quarter valued at $50,000. Williams & Novak LLC acquired a new position in Priority Technology during the 2nd quarter worth $77,000. BNP Paribas Financial Markets grew its stake in Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after purchasing an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Priority Technology during the 3rd quarter worth $112,000. Finally, Jane Street Group LLC grew 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 worth $153,000 after purchasing an additional 1,293 shares in the last quarter. 11.52% of the stock is owned by institutional investors and hedge funds.

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.