Lake Street Capital Boosts Priority Technology (NASDAQ:PRTH) Price Target to $13.00

Priority Technology (NASDAQ:PRTH) had its price objective boosted by Lake Street Capital from $8.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s target price suggests a potential upside of 55.69% from the company’s previous close.

A number of other research analysts have also recently issued reports on PRTH. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $9.00 price objective (up previously from $5.00) on shares of Priority Technology in a research note on Friday, November 8th. B. Riley lifted their target price on shares of Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, September 23rd.

Priority Technology Price Performance

NASDAQ:PRTH opened at $8.35 on Friday. Priority Technology has a one year low of $2.79 and a one year high of $9.25. The company’s 50-day simple moving average is $6.59 and its 200 day simple moving average is $5.46. The firm has a market capitalization of $644.37 million, a P/E ratio of -19.88 and a beta of 1.01.

Insider Activity

In other Priority Technology news, insider Sean Kiewiet sold 7,201 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $5.90, for a total value of $42,485.90. Following the transaction, the insider now directly owns 1,094,652 shares of the company’s stock, valued at approximately $6,458,446.80. This trade represents a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.13, for a total transaction of $61,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,587 shares in the company, valued at approximately $71,028.31. The trade was a 46.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,302 shares of company stock valued at $286,501 over the last ninety days. 76.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Priority Technology

Hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System purchased a new stake in shares of Priority Technology during the first quarter worth about $91,000. Vanguard Group Inc. boosted its stake in Priority Technology by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after purchasing an additional 156,044 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Priority Technology during the 1st quarter valued at approximately $164,000. Virtu Financial LLC bought a new stake in shares of Priority Technology during the first quarter valued at approximately $50,000. Finally, Williams & Novak LLC bought a new stake in shares of Priority Technology during the second quarter valued at approximately $77,000. 11.52% of the stock is currently owned by institutional investors.

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.