B. Riley Boosts Earnings Estimates for Priority Technology

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Research analysts at B. Riley raised their Q4 2024 earnings per share (EPS) estimates for Priority Technology in a research report issued on Monday, November 25th. B. Riley analyst H. Goetsch now anticipates that the company will earn $0.06 per share for the quarter, up from their prior forecast 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.

A number of other brokerages also recently issued reports on PRTH. Lake Street Capital increased their price target on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods increased their price target on Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd.

Priority Technology Price Performance

Shares of NASDAQ:PRTH opened at $10.02 on Tuesday. The company has a market capitalization of $773.24 million, a P/E ratio of -23.86 and a beta of 1.01. Priority Technology has a 1 year low of $2.79 and a 1 year high of $10.05. The business’s 50 day simple moving average is $6.75 and its 200 day simple moving average is $5.60.

Hedge Funds Weigh In On Priority Technology

Several large investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its holdings in 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 buying an additional 1,293 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after buying an additional 6,096 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Priority Technology by 15.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after buying an additional 7,719 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in Priority Technology by 17.0% during the 3rd 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 in the last quarter. Finally, Corsair Capital Management L.P. lifted its holdings in Priority Technology by 10.5% during the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after buying an additional 10,000 shares in the last quarter. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction 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 represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rajiv Kumar sold 10,000 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 11,587 shares of the company’s stock, valued at approximately $71,028.31. This trade represents a 46.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,302 shares of company stock worth $286,501 in the last 90 days. Insiders own 76.30% 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.