Priority Technology Holdings, Inc. (NASDAQ:PRTH) Short Interest Down 14.8% in February

Priority Technology Holdings, Inc. (NASDAQ:PRTH) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 279,000 shares, a decline of 14.8% from the February 13th total of 327,500 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 631,400 shares, the short-interest ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

PRTH has been the subject of a number of recent analyst reports. Lake Street Capital upped their price objective on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $12.00 price objective (down previously from $14.00) on shares of Priority Technology in a research note on Friday, March 7th. Finally, B. Riley upped their price objective on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 25th.

Priority Technology Trading Up 2.3 %

Shares of Priority Technology stock opened at $7.91 on Thursday. The stock has a 50 day moving average of $9.62 and a 200 day moving average of $8.43. Priority Technology has a 12 month low of $2.82 and a 12 month high of $12.47. The firm has a market cap of $629.00 million, a PE ratio of -18.83 and a beta of 0.99.

Insider Buying and Selling at Priority Technology

In other Priority Technology news, CEO Thomas Charles Priore sold 294,167 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $7.44, for a total transaction of $2,188,602.48. Following the completion of the sale, the chief executive officer now owns 34,025,319 shares of the company’s stock, valued at approximately $253,148,373.36. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sean Kiewiet sold 170,596 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $10.60, for a total value of $1,808,317.60. Following the sale, the insider now directly owns 711,853 shares of the company’s stock, valued at $7,545,641.80. This represents a 19.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,293,027 shares of company stock valued at $39,919,204. Company insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steamboat Capital Partners LLC purchased a new stake in Priority Technology during the fourth quarter valued at approximately $9,382,000. Invesco Ltd. purchased a new stake in Priority Technology during the fourth quarter valued at approximately $4,883,000. Divisadero Street Capital Management LP purchased a new stake in Priority Technology during the fourth quarter valued at approximately $4,524,000. Arrowstreet Capital Limited Partnership purchased a new stake in Priority Technology during the fourth quarter valued at approximately $2,471,000. Finally, Renaissance Technologies LLC raised its position in Priority Technology by 405.6% during the fourth quarter. Renaissance Technologies LLC now owns 242,200 shares of the company’s stock valued at $2,846,000 after purchasing an additional 194,300 shares during the period. 11.52% of the stock is owned by institutional investors.

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.