Priority Technology (NASDAQ:PRTH) Price Target Raised to $16.00 at B. Riley

Priority Technology (NASDAQ:PRTH) had its price target raised by B. Riley from $13.00 to $16.00 in a research report sent to investors on Monday morning,Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Priority Technology’s Q4 2024 earnings at $0.06 EPS, FY2024 earnings at ($0.09) EPS, FY2025 earnings at $0.73 EPS and FY2026 earnings at $1.16 EPS.

Several other analysts also recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd. Lake Street Capital boosted their target price on 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 Price Performance

Shares of NASDAQ PRTH opened at $10.06 on Monday. The stock has a market capitalization of $776.29 million, a PE ratio of -23.95 and a beta of 1.01. The business has a fifty day moving average price of $6.89 and a two-hundred day moving average price of $5.66. Priority Technology has a fifty-two week low of $2.79 and a fifty-two week high of $10.44.

Insider Transactions at Priority Technology

In other Priority Technology news, 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 in the company, valued at approximately $71,028.31. This represents a 46.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sean Kiewiet sold 7,201 shares of Priority Technology stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.90, for a total transaction of $42,485.90. Following the transaction, the insider now owns 1,094,652 shares in the company, valued at approximately $6,458,446.80. This trade represents a 0.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,302 shares of company stock worth $286,501. Corporate insiders own 76.30% of the company’s stock.

Institutional Trading of Priority Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. 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 valued at $2,494,000 after buying an additional 156,044 shares during the last quarter. Rebalance LLC bought a new position in shares of Priority Technology during the third quarter worth about $4,822,000. Geode Capital Management LLC boosted its holdings in Priority Technology by 5.8% in the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock valued at $2,707,000 after acquiring an additional 21,598 shares during the last quarter. Corsair Capital Management L.P. raised its holdings in Priority Technology by 10.5% during the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its position in shares of Priority Technology by 17.0% in the 3rd 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 during the period. 11.52% of the stock is currently owned by institutional investors and hedge funds.

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.