Short Interest in Priority Technology Holdings, Inc. (NASDAQ:PRTH) Increases By 44.4%

Priority Technology Holdings, Inc. (NASDAQ:PRTH) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 402,900 shares, an increase of 44.4% from the February 28th total of 279,000 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 671,800 shares, the days-to-cover ratio is currently 0.6 days.

Priority Technology Stock Performance

Shares of NASDAQ PRTH traded up $0.55 during trading hours on Tuesday, hitting $7.37. The company’s stock had a trading volume of 519,318 shares, compared to its average volume of 253,946. Priority Technology has a 12 month low of $2.82 and a 12 month high of $12.47. The business has a 50-day simple moving average of $9.31 and a 200-day simple moving average of $8.55. The stock has a market cap of $586.06 million, a price-to-earnings ratio of -17.55 and a beta of 0.99.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PRTH. TD Cowen raised shares of Priority Technology to a “strong-buy” rating in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $12.00 price objective (down from $14.00) on shares of Priority Technology in a report on Friday, March 7th.

Insider Transactions at Priority Technology

In related news, CEO Thomas Charles Priore sold 294,167 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $7.44, for a total value of $2,188,602.48. Following the sale, the chief executive officer now owns 34,025,319 shares in the company, valued at approximately $253,148,373.36. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Vito Priore sold 1,242,856 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total value of $9,246,848.64. Following the transaction, the director now owns 4,071,574 shares of the company’s stock, valued at approximately $30,292,510.56. The trade was a 23.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,122,431 shares of company stock valued at $38,110,887. 76.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Priority Technology

Several large investors have recently added to or reduced their stakes in PRTH. National Bank of Canada FI purchased a new stake in shares of Priority Technology in the 4th quarter worth about $56,000. Deutsche Bank AG bought a new stake in Priority Technology during the 4th quarter valued at approximately $60,000. Virtu Financial LLC bought a new stake in Priority Technology during the 3rd quarter valued at approximately $91,000. SG Americas Securities LLC purchased a new position in shares of Priority Technology during the 4th quarter worth approximately $100,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Priority Technology by 53.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,593 shares of the company’s stock valued at $101,000 after purchasing an additional 3,006 shares during the period. Institutional investors 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.