Lake Street Capital Forecasts Strong Price Appreciation for Priority Technology (NASDAQ:PRTH) Stock

Priority Technology (NASDAQ:PRTH) had its price target raised by analysts at Lake Street Capital from $8.00 to $13.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price objective points to a potential upside of 62.09% from the stock’s previous close.

Several other analysts also recently weighed in on PRTH. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $9.00 target price (up from $5.00) on shares of Priority Technology in a report on Friday, November 8th. B. Riley lifted their price target on Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd.

Priority Technology Price Performance

Shares of PRTH opened at $8.02 on Friday. Priority Technology has a 1-year low of $2.79 and a 1-year high of $9.25. The stock has a market cap of $618.87 million, a PE ratio of -19.10 and a beta of 1.01. The firm has a fifty day moving average price of $6.63 and a 200 day moving average price of $5.51.

Insider Buying and Selling at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 4,954 shares of Priority Technology stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $5.41, for a total value of $26,801.14. Following the transaction, the insider now directly owns 1,085,158 shares in the company, valued at approximately $5,870,704.78. This trade represents a 0.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of the business’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 approximately $71,028.31. The trade was a 46.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,302 shares of company stock worth $286,501. 76.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Priority Technology

A number of large investors have recently bought and sold shares of PRTH. Rebalance LLC acquired a new position in shares of Priority Technology during the third quarter worth about $4,822,000. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 156,044 shares in the last quarter. Pekin Hardy Strauss Inc. acquired a new position in Priority Technology during the 2nd quarter worth approximately $301,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Priority Technology during the 1st quarter worth approximately $164,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Priority Technology during the 2nd quarter worth approximately $202,000. 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.