B. Riley Predicts Increased Earnings for Priority Technology

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Research analysts at B. Riley boosted their FY2024 earnings per share estimates for Priority Technology in a report issued on Monday, November 25th. B. Riley analyst H. Goetsch now anticipates that the company will post earnings per share of ($0.09) for the year, up from their prior estimate 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.

Several other brokerages also recently issued reports on PRTH. Keefe, Bruyette & Woods raised their price target on 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 upped 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 NASDAQ PRTH opened at $10.06 on Wednesday. The company has a market capitalization of $776.33 million, a P/E ratio of -23.95 and a beta of 1.01. Priority Technology has a 12 month low of $2.79 and a 12 month high of $10.44. The stock has a 50 day moving average of $6.82 and a 200-day moving average of $5.63.

Insider Activity

In related news, insider Sean Kiewiet sold 7,201 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $5.90, for a total value of $42,485.90. Following the completion of the transaction, the insider now owns 1,094,652 shares of the company’s stock, valued at $6,458,446.80. The trade was a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Rajiv Kumar sold 10,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was 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 of the company’s stock, valued at $71,028.31. This represents a 46.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,302 shares of company stock valued at $286,501. 76.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System acquired a new stake in shares of Priority Technology in the 1st quarter valued at $91,000. Vanguard Group Inc. boosted its stake in Priority Technology by 25.7% in the first quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after buying an additional 156,044 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Priority Technology in the first quarter valued at about $164,000. Virtu Financial LLC acquired a new position in Priority Technology during the first quarter worth about $50,000. Finally, Williams & Novak LLC bought a new position in shares of Priority Technology in the second quarter worth about $77,000. 11.52% of the stock is owned by institutional investors.

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.