Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s stock price shot up 7.4% during trading on Wednesday . The company traded as high as $7.50 and last traded at $7.50. 811 shares were traded during mid-day trading, a decline of 99% from the average session volume of 75,207 shares. The stock had previously closed at $6.98.
PRTH has been the topic of several recent research reports. Zacks Investment Research lowered shares of Priority Technology from a “hold” rating to a “sell” rating in a report on Wednesday, August 11th. TheStreet raised shares of Priority Technology from a “d” rating to a “c-” rating in a report on Tuesday, August 10th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $12.92.
The company has a market cap of $515.07 million, a P/E ratio of 37.25 and a beta of 0.51. The company’s fifty day moving average is $5.93 and its 200 day moving average is $6.81.
In related news, Director Stephen W. Hipp bought 8,509 shares of the company’s stock in a transaction dated Wednesday, August 18th. The stock was purchased at an average cost of $5.26 per share, with a total value of $44,757.34. Following the transaction, the director now owns 59,826 shares in the company, valued at approximately $314,684.76. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders bought 14,013 shares of company stock valued at $74,988. Corporate insiders own 85.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PRTH. Bank of Montreal Can lifted its position in Priority Technology by 10,401.4% during the 1st quarter. Bank of Montreal Can now owns 128,117 shares of the company’s stock valued at $902,000 after acquiring an additional 126,897 shares during the period. BlackRock Inc. increased its stake in Priority Technology by 22.5% during the 2nd quarter. BlackRock Inc. now owns 467,084 shares of the company’s stock valued at $3,569,000 after purchasing an additional 85,790 shares in the last quarter. FMR LLC increased its stake in Priority Technology by 3.9% during the 2nd quarter. FMR LLC now owns 1,197,016 shares of the company’s stock valued at $9,146,000 after purchasing an additional 45,062 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Priority Technology during the 1st quarter valued at about $299,000. Finally, Geode Capital Management LLC increased its stake in Priority Technology by 42.5% during the 1st quarter. Geode Capital Management LLC now owns 138,818 shares of the company’s stock valued at $963,000 after purchasing an additional 41,386 shares in the last quarter. 6.78% of the stock is owned by institutional investors.
Priority Technology Company Profile (NASDAQ:PRTH)
Priority Technology Holdings, Inc is a provider of merchant acquiring and commercial payments solutions with a platform of micro services that activate and monetize vertically specialized merchant networks. It offers unique product capabilities to businesses, enterprises and distribution partners such as retail independent sales organizations, financial institutions, wholesale ISOs, and independent software vendors in the United States.
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