Equities Analysts Issue Forecasts for PRTH FY2024 Earnings

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) - Stock analysts at B. Riley boosted their FY2024 EPS estimates for shares of Priority Technology in a research note issued on Monday, November 25th. B. Riley analyst H. Goetsch now forecasts that the company will post earnings per share of ($0.09) for the year, up from their prior 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.

A number of other research analysts have also weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Priority Technology from $9.00 to $10.00 and gave the company a "market perform" rating in a report on Friday, November 22nd. Lake Street Capital raised 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 Stock Up 0.4 %

Shares of NASDAQ PRTH traded up $0.04 during midday trading on Wednesday, hitting $10.06. The stock had a trading volume of 427,187 shares, compared to its average volume of 65,609. The stock has a 50 day simple moving average of $6.82 and a 200-day simple moving average of $5.63. The company has a market capitalization of $776.33 million, a PE ratio of -23.95 and a beta of 1.01. Priority Technology has a 1 year low of $2.79 and a 1 year high of $10.44.

Institutional Trading of Priority Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Priority Technology by 25.7% during the first quarter. Vanguard Group Inc. now owns 762,631 shares of the company's stock valued at $2,494,000 after acquiring an additional 156,044 shares during the last quarter. Rebalance LLC purchased a new position in shares of Priority Technology during the 3rd quarter worth approximately $4,822,000. Geode Capital Management LLC increased its holdings in Priority Technology by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company's stock valued at $2,707,000 after purchasing an additional 21,598 shares during the last quarter. Corsair Capital Management L.P. raised its position in Priority Technology by 10.5% in the third quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company's stock valued at $720,000 after purchasing an additional 10,000 shares during the period. Finally, Pekin Hardy Strauss Inc. lifted its stake in Priority Technology by 17.0% during the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company's stock worth $455,000 after purchasing an additional 9,675 shares in the last quarter. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Sean Kiewiet sold 4,954 shares of Priority Technology stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $5.41, for a total transaction of $26,801.14. Following the sale, the insider now owns 1,085,158 shares of the company's stock, valued at approximately $5,870,704.78. The trade was a 0.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rajiv Kumar sold 10,000 shares of the 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 completion of the transaction, the chief accounting officer now owns 11,587 shares of the company's stock, valued at $71,028.31. The trade was a 46.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,302 shares of company stock valued at $286,501. Insiders own 76.30% 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.