Priority Technology (NASDAQ:PRTH) PT Raised to $13.00

Priority Technology (NASDAQ:PRTH) had its price target upped by B. Riley from $11.00 to $13.00 in a research note issued to investors on Monday, Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Priority Technology’s Q3 2024 earnings at ($0.05) EPS, Q4 2024 earnings at ($0.04) EPS and FY2025 earnings at $0.06 EPS.

Separately, Keefe, Bruyette & Woods lifted their target price on shares of Priority Technology from $4.50 to $5.00 and gave the company a market perform rating in a report on Friday, August 9th.

Priority Technology Trading Down 1.0 %

PRTH opened at $6.98 on Monday. The company has a market cap of $536.27 million, a price-to-earnings ratio of -12.45 and a beta of 0.97. The stock has a fifty day simple moving average of $5.64 and a two-hundred day simple moving average of $4.50. Priority Technology has a 12-month low of $2.79 and a 12-month high of $7.38.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter. Priority Technology had a negative return on equity of 9.60% and a net margin of 0.74%. The business had revenue of $219.87 million during the quarter.

Insider Activity

In other news, insider Sean Kiewiet sold 7,519 shares of Priority Technology stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $5.05, for a total value of $37,970.95. Following the completion of the transaction, the insider now owns 1,176,561 shares of the company’s stock, valued at approximately $5,941,633.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Priority Technology news, insider Sean Kiewiet sold 7,519 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $5.05, for a total transaction of $37,970.95. Following the completion of the sale, the insider now directly owns 1,176,561 shares in the company, valued at approximately $5,941,633.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the chief accounting officer now owns 11,587 shares in the company, valued at approximately $71,028.31. The disclosure for this sale can be found here. Insiders sold 71,894 shares of company stock worth $381,775 over the last three months. 76.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Priority Technology

Several large investors have recently bought and sold shares of PRTH. State Board of Administration of Florida Retirement System purchased a new stake in Priority Technology during the first quarter valued at $91,000. Vanguard Group Inc. lifted its position in 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 purchasing an additional 156,044 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Priority Technology during the first quarter valued at about $164,000. Virtu Financial LLC purchased a new stake in Priority Technology in the first quarter worth about $50,000. Finally, Williams & Novak LLC bought a new position in shares of Priority Technology in the second quarter worth about $77,000. 11.52% of the stock is currently owned by 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.