B. Riley Expects Stronger Earnings for Priority Technology

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Research analysts at B. Riley boosted their FY2024 earnings per share estimates for shares of Priority Technology in a research note issued to investors on Monday, November 25th. B. Riley analyst H. Goetsch now anticipates that the company will earn ($0.09) per share for the year, up from their previous 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 research analysts have also weighed in on the stock. Keefe, Bruyette & Woods upped 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. Lake Street Capital upped their price target on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd.

Priority Technology Price Performance

Shares of PRTH opened at $10.02 on Wednesday. The company has a market capitalization of $773.24 million, a price-to-earnings ratio of -23.86 and a beta of 1.01. The business’s 50-day moving average is $6.75 and its 200-day moving average is $5.60. Priority Technology has a fifty-two week low of $2.79 and a fifty-two week high of $10.05.

Insider Activity at Priority Technology

In other Priority Technology news, CAO Rajiv Kumar sold 10,000 shares of the firm’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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Kiewiet sold 4,954 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.41, for a total value of $26,801.14. Following the completion of the sale, the insider now directly owns 1,085,158 shares of the company’s stock, valued at $5,870,704.78. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,302 shares of company stock valued at $286,501. 76.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Priority Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of Priority Technology during the 3rd quarter worth $91,000. Williams & Novak LLC bought a new stake in Priority Technology during the second quarter valued at about $77,000. BNP Paribas Financial Markets grew its position in shares of Priority Technology by 61.7% in the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after purchasing an additional 6,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Priority Technology in the third quarter worth about $112,000. Finally, Jane Street Group LLC lifted its position in shares of Priority Technology by 6.1% during the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after purchasing an additional 1,293 shares during the last quarter. 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.