FY2024 Earnings Forecast for PRTH Issued By B. Riley

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) - Equities researchers 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 forecasts that the company will earn ($0.10) per share for the year. B. Riley currently has a "Buy" rating and a $13.00 target price 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 reiterated a "market perform" rating and set a $9.00 price target (up from $5.00) on shares of Priority Technology in a report on Friday, November 8th.

Priority Technology Stock Performance

Shares of Priority Technology stock traded down $0.23 on Thursday, reaching $8.20. 212,854 shares of the stock were exchanged, compared to its average volume of 53,979. The firm's 50 day moving average is $6.26 and its 200-day moving average is $5.26. Priority Technology has a one year low of $2.79 and a one year high of $8.90. The firm has a market cap of $632.79 million, a PE ratio of -20.07 and a beta of 1.01.

Insiders Place Their Bets

In related news, insider Sean Kiewiet sold 5,700 shares of the stock in a transaction 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 transaction, the insider now directly owns 1,055,158 shares in the company, valued at $5,391,857.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Priority Technology news, insider Sean Kiewiet sold 5,700 shares of the firm's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $5.11, for a total transaction of $29,127.00. Following the transaction, the insider now directly owns 1,055,158 shares in the company, valued at approximately $5,391,857.38. This trade represents a 0.00 % 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, CEO Thomas Charles Priore sold 16,000 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $5.08, for a total value of $81,280.00. Following the sale, the chief executive officer now directly owns 34,301,608 shares of the company's stock, valued at approximately $174,252,168.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,498 shares of company stock worth $368,761. Corporate insiders own 76.30% of the company's stock.

Institutional Investors Weigh In On Priority Technology

Large investors have recently made changes to their positions in the business. Williams & Novak LLC purchased a new stake in shares of Priority Technology during the 2nd quarter valued at $77,000. Virtu Financial LLC purchased a new stake in Priority Technology in the 1st quarter worth about $50,000. BNP Paribas Financial Markets increased its holdings in Priority Technology by 61.7% in the 3rd 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. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Priority Technology in the 3rd quarter worth about $112,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Priority Technology in the 1st quarter worth about $91,000. 11.52% of the stock is owned by hedge funds and other institutional investors.

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.