Equities Analysts Set Expectations for PRTH FY2024 Earnings

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Analysts at B. Riley issued their FY2024 earnings estimates for shares of Priority Technology in a research report issued on Monday, November 11th. B. Riley analyst H. Goetsch anticipates that the company will post earnings per share of ($0.10) for the year. B. Riley has a “Buy” rating and a $13.00 price target 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 price target (up previously from $5.00) on shares of Priority Technology in a research note on Friday, November 8th.

Priority Technology Stock Down 1.4 %

Shares of NASDAQ:PRTH opened at $8.43 on Thursday. The business’s 50 day moving average price is $6.21 and its 200-day moving average price is $5.23. Priority Technology has a 1 year low of $2.79 and a 1 year high of $8.90.

Institutional Investors Weigh In On Priority Technology

A number of hedge funds have recently bought and sold shares of PRTH. State Board of Administration of Florida Retirement System bought a new position in Priority Technology in the 1st quarter worth about $91,000. Vanguard Group Inc. increased its holdings in shares of Priority Technology by 25.7% in the 1st 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 period. Jacobs Levy Equity Management Inc. bought a new position in Priority Technology during the first quarter valued at approximately $164,000. Virtu Financial LLC bought a new position in Priority Technology during the first quarter valued at about $50,000. Finally, Williams & Novak LLC acquired a new stake in shares of Priority Technology in the second quarter worth $77,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Insiders Place Their Bets

In related news, insider Sean Kiewiet sold 5,700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $5.11, for a total value of $29,127.00. Following the sale, the insider now owns 1,055,158 shares of the company’s stock, valued at $5,391,857.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Sean Kiewiet sold 5,700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $5.11, for a total value of $29,127.00. Following the completion of the sale, the insider now directly owns 1,055,158 shares of the company’s stock, valued at approximately $5,391,857.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction on Friday, September 13th. The shares were sold at an average price of $6.13, for a total transaction of $61,300.00. Following the completion of the transaction, the chief accounting officer now owns 11,587 shares in the company, valued at approximately $71,028.31. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,498 shares of company stock worth $368,761 in the last ninety days. 76.30% of the stock is owned by corporate 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.