FY2024 Earnings Estimate for PRTH Issued By B. Riley

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Equities researchers at B. Riley issued their FY2024 earnings per share estimates for shares of Priority Technology in a report released on Monday, November 11th. B. Riley analyst H. Goetsch forecasts that the company will earn ($0.10) per share for the year. B. Riley has a “Buy” rating and a $13.00 price objective on the stock. B. Riley also issued estimates for Priority Technology’s Q4 2024 earnings at $0.05 EPS and FY2025 earnings at $0.51 EPS.

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $9.00 price target (up from $5.00) on shares of Priority Technology in a research note on Friday, November 8th.

Priority Technology Stock Down 2.5 %

NASDAQ PRTH opened at $8.22 on Thursday. The business has a 50-day moving average price of $6.26 and a 200-day moving average price of $5.26. The firm has a market cap of $634.34 million, a price-to-earnings ratio of -20.07 and a beta of 1.01. Priority Technology has a twelve month low of $2.79 and a twelve month high of $8.90.

Hedge Funds Weigh In On Priority Technology

A number of institutional investors and hedge funds have recently made changes to their positions in PRTH. Vanguard Group Inc. lifted its holdings 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 valued at $2,494,000 after acquiring an additional 156,044 shares during the last quarter. Rebalance LLC purchased a new position in shares of Priority Technology in the 3rd quarter worth approximately $4,822,000. Corsair Capital Management L.P. increased its position in shares of Priority Technology by 10.5% during the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after purchasing an additional 10,000 shares during the last quarter. Pekin Hardy Strauss Inc. raised its holdings in Priority Technology by 17.0% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock valued at $455,000 after buying an additional 9,675 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Priority Technology by 15.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock valued at $386,000 after buying an additional 7,719 shares during the period. 11.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Priority Technology

In other Priority Technology news, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 $71,028.31. This trade represents a 46.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Sean Kiewiet sold 5,700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $5.11, for a total value of $29,127.00. Following the sale, the insider now directly owns 1,055,158 shares in the company, valued at $5,391,857.38. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,498 shares of company stock worth $368,761. Insiders own 76.30% of the company’s stock.

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.