B. Riley Increases Priority Technology (NASDAQ:PRTH) Price Target to $16.00

Priority Technology (NASDAQ:PRTH) had its price target hoisted by equities research analysts at B. Riley from $13.00 to $16.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 59.68% from the company’s previous close. B. Riley also issued estimates for Priority Technology’s Q4 2024 earnings at $0.06 EPS and FY2026 earnings at $1.16 EPS.

A number of other research firms have also commented on PRTH. Lake Street Capital raised their price objective 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. 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 research note on Friday, November 22nd.

Priority Technology Price Performance

NASDAQ PRTH opened at $10.02 on Monday. Priority Technology has a 12 month low of $2.79 and a 12 month high of $10.05. The firm has a market capitalization of $773.24 million, a PE ratio of -23.86 and a beta of 1.01. The company’s 50 day simple moving average is $6.75 and its 200 day simple moving average is $5.60.

Insiders Place Their Bets

In other Priority Technology news, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.13, for a total value of $61,300.00. Following the transaction, the chief accounting officer now owns 11,587 shares in the company, valued at approximately $71,028.31. The trade was a 46.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean Kiewiet sold 5,700 shares of Priority Technology stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $5.11, for a total transaction of $29,127.00. Following the completion of the transaction, the insider now owns 1,055,158 shares in the company, valued at approximately $5,391,857.38. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,302 shares of company stock worth $286,501. 76.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Priority Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in 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 period. Rebalance LLC acquired a new position in Priority Technology in the 3rd quarter worth approximately $4,822,000. Jacobs Levy Equity Management Inc. acquired a new position in Priority Technology in the 1st quarter worth approximately $164,000. Renaissance Technologies LLC acquired a new position in Priority Technology in the 2nd quarter worth approximately $202,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Priority Technology in the 1st quarter worth approximately $91,000. Institutional investors and hedge funds own 11.52% 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.