Priority Technology Holdings, Inc. (NASDAQ:PRTH – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after B. Riley raised their price target on the stock from $11.00 to $13.00. B. Riley currently has a buy rating on the stock. Priority Technology traded as high as $7.00 and last traded at $6.97, with a volume of 35672 shares. The stock had previously closed at $6.85.
Separately, Keefe, Bruyette & Woods increased their price target on shares of Priority Technology from $4.50 to $5.00 and gave the company a “market perform” rating in a research report on Friday, August 9th.
Check Out Our Latest Stock Analysis on PRTH
Insider Buying and Selling at Priority Technology
Institutional Investors Weigh In On Priority Technology
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Priority Technology by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after buying an additional 156,044 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Priority Technology during the 1st quarter worth $164,000. State Board of Administration of Florida Retirement System acquired a new position in Priority Technology during the 1st quarter worth $91,000. Pekin Hardy Strauss Inc. acquired a new position in Priority Technology during the 2nd quarter worth $301,000. Finally, Virtu Financial LLC acquired a new position in Priority Technology during the 1st quarter worth $50,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.
Priority Technology Stock Performance
The company has a market capitalization of $557.25 million, a price-to-earnings ratio of -11.81 and a beta of 0.97. The company’s fifty day simple moving average is $5.58 and its two-hundred day simple moving average is $4.46.
Priority Technology (NASDAQ:PRTH – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter. Priority Technology had a negative return on equity of 9.60% and a net margin of 0.74%. The company had revenue of $219.87 million for the quarter.
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.
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