B. Riley Raises Earnings Estimates for Priority Technology

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Research analysts at B. Riley boosted their FY2024 earnings per share (EPS) estimates for shares of Priority Technology in a research report issued on Monday, November 25th. B. Riley analyst H. Goetsch now forecasts that the company will earn ($0.09) per share for the year, up from their prior forecast of ($0.10). B. Riley currently has a “Buy” rating and a $16.00 price objective on the stock. The consensus estimate for Priority Technology’s current full-year earnings is ($0.10) per share. B. Riley also issued estimates for Priority Technology’s FY2025 earnings at $0.73 EPS.

A number of other research firms also recently weighed in on PRTH. Keefe, Bruyette & Woods increased their price target on shares of Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a research note on Friday, November 22nd. Lake Street Capital lifted their target price 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 Trading Up 0.4 %

NASDAQ PRTH opened at $10.06 on Wednesday. The business’s 50-day moving average price is $6.89 and its 200 day moving average price is $5.66. Priority Technology has a twelve month low of $2.79 and a twelve month high of $10.44. The company has a market capitalization of $776.29 million, a PE ratio of -23.95 and a beta of 1.01.

Insider Buying and Selling at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 4,483 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $6.00, for a total value of $26,898.00. Following the completion of the transaction, the insider now directly owns 1,065,158 shares of the company’s stock, valued at $6,390,948. This represents a 0.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.13, for a total value of $61,300.00. Following the sale, the chief accounting officer now owns 11,587 shares of the company’s stock, valued at $71,028.31. This represents a 46.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,302 shares of company stock valued at $286,501 over the last 90 days. 76.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Priority Technology

Institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System bought a new stake in shares of Priority Technology in the first quarter worth $91,000. Vanguard Group Inc. increased its position in shares of 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 last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Priority Technology in the 1st quarter valued at about $164,000. Virtu Financial LLC bought a new position in shares of Priority Technology during the first quarter worth about $50,000. Finally, Williams & Novak LLC acquired a new position in Priority Technology in the second quarter worth about $77,000. 11.52% of the stock is owned by institutional investors and hedge funds.

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.