Analysts Set Expectations for PRTH FY2024 Earnings

Priority Technology Holdings, Inc. (NASDAQ:PRTH) – Research analysts at B. Riley issued their FY2024 earnings per share estimates for shares of Priority Technology in a research report issued to clients and investors on Monday, November 11th. B. Riley analyst H. Goetsch expects 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 target 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 restated a “market perform” rating and set a $9.00 price objective (up previously from $5.00) on shares of Priority Technology in a report on Friday, November 8th.

Priority Technology Stock Down 1.4 %

PRTH opened at $8.43 on Thursday. Priority Technology has a 52 week low of $2.79 and a 52 week high of $8.90. The company has a fifty day moving average price of $6.21 and a two-hundred day moving average price of $5.23.

Hedge Funds Weigh In On Priority Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in Priority Technology by 61.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after purchasing an additional 6,096 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Priority Technology by 15.8% during the third 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 during the last quarter. Pekin Hardy Strauss Inc. lifted its position in shares of Priority Technology by 17.0% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock valued at $455,000 after buying an additional 9,675 shares during the last quarter. Corsair Capital Management L.P. lifted its holdings in Priority Technology by 10.5% during 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 last quarter. Finally, Williams & Novak LLC purchased a new stake in shares of Priority Technology during the second quarter worth $77,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Insider Buying and Selling at Priority Technology

In other 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 transaction 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Thomas Charles Priore sold 16,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $5.08, for a total transaction of $81,280.00. Following the completion of the transaction, the chief executive officer now owns 34,301,608 shares of the company’s stock, valued at approximately $174,252,168.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were 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 directly owns 11,587 shares of the company’s stock, valued at $71,028.31. This represents a 0.00 % decrease in their position. 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. 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.