Q4 EPS Estimates for Priority Technology Lifted by B. Riley

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Analysts at B. Riley boosted their Q4 2024 earnings estimates for shares of Priority Technology in a research report issued on Monday, November 25th. B. Riley analyst H. Goetsch now anticipates that the company will post earnings per share of $0.06 for the quarter, up from their prior estimate of $0.05. 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 FY2026 earnings at $1.16 EPS.

Several other research analysts also recently weighed in on the stock. 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 report on Friday. Keefe, Bruyette & Woods raised their target price on Priority Technology from $9.00 to $10.00 and gave the company a “market perform” rating in a research report on Friday.

Priority Technology Stock Up 9.0 %

PRTH opened at $8.74 on Tuesday. The firm’s fifty day simple moving average is $6.68 and its two-hundred day simple moving average is $5.56. Priority Technology has a 52-week low of $2.79 and a 52-week high of $9.85. The company has a market cap of $674.47 million, a price-to-earnings ratio of -20.81 and a beta of 1.01.

Insider Transactions at Priority Technology

In related news, insider Sean Kiewiet sold 5,700 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was 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 owns 1,055,158 shares of the company’s stock, valued at approximately $5,391,857.38. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction that occurred on Friday, September 13th. The stock was 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,302 shares of company stock valued at $286,501. Corporate insiders own 76.30% of the company’s stock.

Institutional Investors Weigh In On Priority Technology

A number of hedge funds have recently modified their holdings of the company. Rebalance LLC acquired a new position in Priority Technology in the 3rd quarter valued at about $4,822,000. Vanguard Group Inc. increased its holdings in shares of Priority Technology by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after buying an additional 156,044 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in Priority Technology in the second quarter valued at approximately $301,000. Jacobs Levy Equity Management Inc. acquired a new position in Priority Technology in the first quarter valued at approximately $164,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Priority Technology during the 2nd quarter worth $202,000. Hedge funds and other institutional investors own 11.52% 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.