Priority Technology Holdings, Inc. (NASDAQ:PRTH) Short Interest Update

Priority Technology Holdings, Inc. (NASDAQ:PRTH) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 743,700 shares, an increase of 640.7% from the November 15th total of 100,400 shares. Based on an average trading volume of 153,600 shares, the short-interest ratio is presently 4.8 days. Currently, 5.5% of the company’s shares are short sold.

Priority Technology Stock Performance

PRTH traded up $0.37 on Wednesday, hitting $9.86. The company had a trading volume of 322,012 shares, compared to its average volume of 75,487. The stock has a market capitalization of $761.17 million, a price-to-earnings ratio of -22.95 and a beta of 1.20. The stock has a fifty day moving average price of $7.33 and a 200-day moving average price of $6.03. Priority Technology has a 12-month low of $2.82 and a 12-month high of $10.44.

Insider Activity at Priority Technology

In other news, insider Sean Kiewiet sold 21,286 shares of Priority Technology stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $9.68, for a total transaction of $206,048.48. Following the completion of the sale, the insider now directly owns 888,608 shares in the company, valued at approximately $8,601,725.44. This trade represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rajiv Kumar sold 10,000 shares of the company’s stock in a transaction dated 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 owns 11,587 shares in the company, valued at approximately $71,028.31. The trade was a 46.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,566 shares of company stock valued at $715,466. Insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

Several hedge funds have recently modified their holdings of PRTH. Vanguard Group Inc. grew its position 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 purchasing an additional 156,044 shares during the last quarter. Rebalance LLC purchased a new stake in shares of Priority Technology during the third quarter valued at $4,822,000. Geode Capital Management LLC increased its position in shares of Priority Technology by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock valued at $2,707,000 after acquiring an additional 21,598 shares during the period. Corsair Capital Management L.P. raised its stake in Priority Technology by 10.5% in the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its position in Priority Technology by 17.0% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after acquiring an additional 9,675 shares during the period. Institutional investors and hedge funds own 11.52% of the company’s stock.

Analyst Ratings Changes

PRTH has been the subject of several research analyst reports. B. Riley lifted their price target on shares of Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Keefe, Bruyette & Woods increased their price target on Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd. Finally, Lake Street Capital lifted their price objective on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 22nd.

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.