B. Riley Boosts Earnings Estimates for Priority Technology

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Equities research analysts at B. Riley increased their FY2024 earnings per share estimates for shares of Priority Technology in a research note issued on Monday, November 25th. B. Riley analyst H. Goetsch now anticipates that the company will post earnings of ($0.09) per share for the year, up from their prior forecast of ($0.10). B. Riley has a “Buy” rating and a $16.00 price target 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 analysts have also issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Priority Technology from $9.00 to $10.00 and gave the company a “market perform” rating in a report on Friday, November 22nd. Lake Street Capital raised their price target on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 22nd.

Priority Technology Trading Up 0.4 %

Shares of PRTH stock opened at $10.06 on Wednesday. The firm has a market capitalization of $776.33 million, a price-to-earnings ratio of -23.95 and a beta of 1.01. The business’s 50-day moving average price is $6.82 and its 200-day moving average price is $5.63. Priority Technology has a 12 month low of $2.79 and a 12 month high of $10.44.

Insider Activity

In related news, insider Sean Kiewiet sold 4,483 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $6.00, for a total value of $26,898.00. Following the transaction, the insider now owns 1,065,158 shares in the company, valued at $6,390,948. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $6.13, for a total transaction of $61,300.00. Following the sale, the chief accounting officer now directly owns 11,587 shares in the company, valued at $71,028.31. This trade represents a 46.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,302 shares of company stock valued at $286,501. Company insiders own 76.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other 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 Priority Technology in the first quarter worth approximately $91,000. Vanguard Group Inc. grew its position in shares of Priority Technology by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after buying an additional 156,044 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Priority Technology in the 1st quarter valued at $164,000. Virtu Financial LLC acquired a new position in shares of Priority Technology during the 1st quarter valued at $50,000. Finally, Williams & Novak LLC acquired a new position in shares of Priority Technology during the 2nd quarter valued at $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.