Priority Technology (NASDAQ:PRTH) Hits New 52-Week High at $6.90

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $6.90 and last traded at $6.87, with a volume of 74812 shares traded. The stock had previously closed at $6.73.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their target price on shares of Priority Technology from $4.50 to $5.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th.

Priority Technology Trading Up 2.5 %

The stock has a market cap of $530.13 million, a P/E ratio of -11.60 and a beta of 0.97. The company has a 50-day moving average price of $5.46 and a two-hundred day moving average price of $4.36.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter. Priority Technology had a net margin of 0.74% and a negative return on equity of 9.60%. The firm had revenue of $219.87 million during the quarter.

Insider Buying and Selling

In other news, CAO Rajiv Kumar sold 10,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $6.13, for a total transaction of $61,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,587 shares of the company’s stock, valued at approximately $71,028.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Thomas Charles Priore sold 16,000 shares of the stock in a transaction 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Rajiv Kumar sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 11,587 shares in the company, valued at $71,028.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,395 shares of company stock worth $529,410. Company insiders own 76.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Panagora Asset Management Inc. boosted its holdings in Priority Technology by 22.5% in the fourth quarter. Panagora Asset Management Inc. now owns 42,602 shares of the company’s stock worth $152,000 after purchasing an additional 7,812 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Priority Technology during the 1st quarter worth about $91,000. Vanguard Group Inc. boosted its position 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. Jacobs Levy Equity Management Inc. acquired a new position in Priority Technology in the first quarter valued at approximately $164,000. Finally, Virtu Financial LLC acquired a new position in Priority Technology in the first quarter valued at about $50,000. 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.