Priority Technology (NASDAQ:PRTH) Trading 3.2% Higher - Here's What Happened

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) traded up 3.2% during trading on Friday . The stock traded as high as $8.25 and last traded at $8.51. 22,030 shares changed hands during trading, a decline of 93% from the average session volume of 315,295 shares. The stock had previously closed at $8.25.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Keefe, Bruyette & Woods cut their target price on shares of Priority Technology from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. TD Cowen raised shares of Priority Technology to a "strong-buy" rating in a research note on Tuesday, March 18th.

Priority Technology Trading Up 3.6%

The firm has a market cap of $681.89 million, a PE ratio of -20.36 and a beta of 1.50. The company's 50-day moving average is $7.18 and its 200 day moving average is $8.79.

Priority Technology (NASDAQ:PRTH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.10 by $0.12. The business had revenue of $224.63 million during the quarter, compared to the consensus estimate of $228.81 million. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. On average, research analysts predict that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

Insider Activity at Priority Technology

In other Priority Technology news, Director Marietta Davis sold 9,433 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $7.22, for a total value of $68,106.26. Following the completion of the sale, the director now owns 75,136 shares in the company, valued at $542,481.92. This represents a 11.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 66.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Priority Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRTH. AlphaQuest LLC purchased a new stake in Priority Technology in the 1st quarter worth approximately $37,000. Strs Ohio purchased a new stake in Priority Technology in the 1st quarter worth approximately $46,000. CWM LLC lifted its position in Priority Technology by 13,386.7% in the 1st quarter. CWM LLC now owns 8,092 shares of the company's stock worth $55,000 after buying an additional 8,032 shares in the last quarter. National Bank of Canada FI purchased a new stake in Priority Technology in the 4th quarter worth approximately $56,000. Finally, US Bancorp DE purchased a new stake in Priority Technology in the 1st quarter worth approximately $58,000. Hedge funds and other institutional investors own 11.52% of the company's stock.

Priority Technology Company Profile

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.