B. Riley Raises Priority Technology (NASDAQ:PRTH) Price Target to $13.00

Priority Technology (NASDAQ:PRTH) had its target price boosted by B. Riley from $11.00 to $13.00 in a report released on Monday morning, 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 boosted their price objective on shares of Priority Technology from $4.50 to $5.00 and gave the stock a market perform rating in a report on Friday, August 9th.

Priority Technology Stock Down 1.0 %

PRTH opened at $6.98 on Monday. The business’s fifty day simple moving average is $5.64 and its 200 day simple moving average is $4.50. Priority Technology has a 52 week low of $2.79 and a 52 week high of $7.38. The stock has a market cap of $536.27 million, a PE ratio of -12.45 and a beta of 0.97.

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

Insider Activity

In related news, CAO Rajiv Kumar sold 10,000 shares of the firm’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 transaction, the chief accounting officer now directly owns 11,587 shares in the company, valued at approximately $71,028.31. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Thomas Charles Priore sold 16,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $5.08, for a total transaction of $81,280.00. Following the completion of the sale, the chief executive officer now directly owns 34,301,608 shares in the company, valued at approximately $174,252,168.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rajiv Kumar sold 10,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $6.13, for a total transaction of $61,300.00. Following the sale, the chief accounting officer now directly owns 11,587 shares of the company’s stock, valued at approximately $71,028.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,894 shares of company stock valued at $381,775. Insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System bought a new stake in shares of Priority Technology in the first quarter worth about $91,000. Vanguard Group Inc. grew its position in shares of Priority Technology by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after buying an additional 156,044 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Priority Technology during the first quarter valued at approximately $164,000. Virtu Financial LLC bought a new position in shares of Priority Technology during the first quarter valued at approximately $50,000. Finally, Williams & Novak LLC bought a new position in shares of Priority Technology during the second quarter valued at approximately $77,000. 11.52% of the stock is owned by institutional investors.

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.