Priority Technology (NASDAQ:PRTH) Stock Price Down 0.9%

Priority Technology Holdings, Inc. (NASDAQ:PRTH) shares dropped 0.9% during trading on Tuesday . The stock traded as low as $3.17 and last traded at $3.18. Approximately 16,837 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 29,358 shares. The stock had previously closed at $3.21.

Wall Street Analysts Forecast Growth

Separately, B. Riley lifted their target price on Priority Technology from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th.

Priority Technology Trading Down 0.9 %

The company has a market cap of $241.01 million, a price-to-earnings ratio of -5.05 and a beta of 0.88. The firm has a 50-day moving average price of $3.21 and a 200 day moving average price of $3.34.

Priority Technology (NASDAQ:PRTH) last issued its earnings results on Tuesday, March 12th. The company reported ($0.16) EPS for the quarter. The firm had revenue of $199.28 million during the quarter, compared to the consensus estimate of $204.19 million. Research analysts anticipate that Priority Technology Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sean Kiewiet sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $3.30, for a total value of $33,000.00. Following the sale, the insider now owns 1,351,853 shares of the company’s stock, valued at approximately $4,461,114.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 15,919 shares of company stock valued at $52,136. Insiders own 77.40% of the company’s stock.

Institutional Trading of Priority Technology

A hedge fund recently raised its stake in Priority Technology stock. Panagora Asset Management Inc. raised its holdings in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 22.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,602 shares of the company’s stock after acquiring an additional 7,812 shares during the period. Panagora Asset Management Inc. owned approximately 0.06% of Priority Technology worth $152,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.