B. Riley Boosts Earnings Estimates for Priority Technology

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Stock analysts at B. Riley upped their FY2024 earnings per share (EPS) estimates for Priority Technology in a note issued to investors on Monday, November 25th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings per share of ($0.09) for the year, up from their previous forecast of ($0.10). B. Riley 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.

Several other research firms have also recently commented on PRTH. Keefe, Bruyette & Woods upped their target price on shares of Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd. Lake Street Capital boosted their price objective on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd.

Priority Technology Stock Performance

Priority Technology stock opened at $10.06 on Wednesday. Priority Technology has a one year low of $2.79 and a one year high of $10.44. The company has a 50-day simple moving average of $6.89 and a 200-day simple moving average of $5.66. The firm has a market capitalization of $776.29 million, a P/E ratio of -23.95 and a beta of 1.01.

Institutional Investors Weigh In On Priority Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System bought a new position in shares of Priority Technology during the 1st quarter valued at about $91,000. Vanguard Group Inc. lifted its stake in Priority Technology by 25.7% during the first quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after purchasing an additional 156,044 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Priority Technology during the first quarter worth approximately $164,000. Virtu Financial LLC acquired a new stake in shares of Priority Technology in the first quarter worth $50,000. Finally, Williams & Novak LLC purchased a new position in shares of Priority Technology during the second quarter valued at $77,000. 11.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction 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 transaction, the chief accounting officer now directly owns 11,587 shares in the company, valued at approximately $71,028.31. This trade represents a 46.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Kiewiet sold 11,664 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.61, for a total value of $77,099.04. Following the completion of the sale, the insider now owns 1,073,494 shares of the company’s stock, valued at approximately $7,095,795.34. This trade represents a 1.07 % decrease in their position. 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 currently owned by company insiders.

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.