Analysts Issue Forecasts for PRTH FY2024 Earnings

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Equities research analysts at B. Riley issued their FY2024 earnings estimates for shares of Priority Technology in a report released on Monday, November 11th. B. Riley analyst H. Goetsch forecasts that the company will post earnings of ($0.10) per share for the year. B. Riley has a “Buy” rating and a $13.00 price objective 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 Q4 2024 earnings at $0.05 EPS and FY2025 earnings at $0.51 EPS.

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $9.00 price target (up from $5.00) on shares of Priority Technology in a research note on Friday, November 8th.

Priority Technology Stock Performance

NASDAQ:PRTH opened at $7.99 on Thursday. Priority Technology has a 52-week low of $2.79 and a 52-week high of $8.90. The company has a market cap of $616.56 million, a P/E ratio of -19.05 and a beta of 1.01. The stock’s 50-day simple moving average is $6.31 and its 200 day simple moving average is $5.28.

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 position in shares of Priority Technology in the first quarter valued at about $50,000. Williams & Novak LLC bought a new position in Priority Technology in the 2nd quarter valued at about $77,000. State Board of Administration of Florida Retirement System acquired a new stake in Priority Technology during the first quarter worth approximately $91,000. BNP Paribas Financial Markets lifted its position in Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after acquiring an additional 6,096 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Priority Technology during the third quarter worth approximately $112,000. 11.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Priority Technology

In other Priority Technology news, CAO Rajiv Kumar sold 10,000 shares of the company’s 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 sale, the chief accounting officer now owns 11,587 shares in the company, valued at $71,028.31. This 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 this link. Also, insider Sean Kiewiet sold 11,664 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $6.61, for a total value of $77,099.04. Following the completion of the sale, the insider now directly owns 1,073,494 shares of the company’s stock, valued at approximately $7,095,795.34. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,498 shares of company stock worth $368,761 over the last quarter. 76.30% of the stock is currently owned by insiders.

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.