FY2024 Earnings Estimate for PRTH Issued By B. Riley

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Equities researchers at B. Riley issued their FY2024 earnings estimates for Priority Technology in a research report issued on Monday, November 11th. B. Riley analyst H. Goetsch expects that the company will post earnings per share of ($0.10) for the year. B. Riley currently 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 reissued a “market perform” rating and issued a $9.00 target price (up from $5.00) on shares of Priority Technology in a research note on Friday, November 8th.

Priority Technology Stock Down 2.5 %

PRTH stock opened at $8.22 on Thursday. The business has a 50 day moving average of $6.26 and a 200 day moving average of $5.26. The firm has a market cap of $634.34 million, a PE 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.

Institutional Investors Weigh In On Priority Technology

A number of large investors have recently added to or reduced their stakes in the stock. Corsair Capital Management L.P. lifted its holdings in Priority Technology by 10.5% in the third quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after acquiring an additional 10,000 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Priority Technology by 61.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after purchasing an additional 6,096 shares during the period. Pekin Hardy Strauss Inc. boosted its holdings in shares of Priority Technology by 17.0% in the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after buying an additional 9,675 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Priority Technology by 15.8% during the third 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. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Priority Technology during the third quarter valued at approximately $112,000. Institutional investors own 11.52% of the company’s stock.

Insider Transactions at Priority Technology

In other news, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction dated 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 owns 11,587 shares of the company’s stock, valued at $71,028.31. This trade represents a 46.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Charles Priore sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $5.08, for a total transaction of $81,280.00. Following the transaction, the chief executive officer now directly owns 34,301,608 shares of the company’s stock, valued at $174,252,168.64. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,498 shares of company stock worth $368,761. Corporate insiders own 76.30% of the company’s stock.

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.