Priority Technology (NASDAQ:PRTH) Trading Down 6.8% – Time to Sell?

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s share price fell 6.8% during trading on Friday . The company traded as low as $10.89 and last traded at $11.03. 135,998 shares were traded during trading, an increase of 56% from the average session volume of 86,951 shares. The stock had previously closed at $11.84.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Keefe, Bruyette & Woods raised their price target on Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Lake Street Capital raised their target price on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, B. Riley boosted their price target on shares of 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 Price Performance

The company has a market capitalization of $850.72 million, a PE ratio of -26.24 and a beta of 1.19. The company has a 50 day moving average of $8.22 and a two-hundred day moving average of $6.49.

Insider Transactions at Priority Technology

In other news, insider Sean Kiewiet sold 21,286 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $9.68, for a total value of $206,048.48. Following the sale, the insider now directly owns 888,608 shares of the company’s stock, valued at $8,601,725.44. The trade was a 2.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 76,766 shares of company stock valued at $656,166 in the last three months. 76.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRTH. Rebalance LLC bought a new position in shares of Priority Technology during the third quarter valued at $4,822,000. Pekin Hardy Strauss Inc. bought a new stake in Priority Technology during the 2nd quarter valued at about $301,000. Renaissance Technologies LLC bought a new stake in Priority Technology during the 2nd quarter valued at about $202,000. JPMorgan Chase & Co. raised its holdings in Priority Technology by 273.0% in the third quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock worth $232,000 after buying an additional 24,811 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Priority Technology by 5.8% in the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after buying an additional 21,598 shares in the last quarter. 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.