Priority Technology (NASDAQ:PRTH) Stock Price Up 3.2% - Still a Buy?

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen raised Priority Technology to a "strong-buy" rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods reduced their price target on Priority Technology from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th.

Priority Technology Price Performance

The company has a market cap of $691.46 million, a price-to-earnings ratio of -20.64 and a beta of 1.50. The business's fifty day moving average price is $7.20 and its 200 day moving average price is $8.79.

Priority Technology (NASDAQ:PRTH - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.12. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. The firm had revenue of $224.63 million for the quarter, compared to analyst estimates of $228.81 million. As a group, equities research analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

Insider Transactions at Priority Technology

In other Priority Technology news, Director Marietta Davis sold 9,433 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $7.22, for a total transaction of $68,106.26. Following the completion of the sale, the director now directly owns 75,136 shares in the company, valued at approximately $542,481.92. This trade represents a 11.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 66.20% of the company's stock.

Institutional Investors Weigh In On Priority Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. AlphaQuest LLC acquired a new stake in shares of Priority Technology in the 1st quarter valued at about $37,000. Strs Ohio bought a new position in Priority Technology in the 1st quarter valued at $46,000. CWM LLC increased its holdings in Priority Technology by 13,386.7% during the first quarter. CWM LLC now owns 8,092 shares of the company's stock worth $55,000 after buying an additional 8,032 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of Priority Technology during the 4th quarter worth approximately $56,000. Finally, US Bancorp DE purchased a new stake in Priority Technology in the first quarter worth $58,000. 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.