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

Priority Technology (NASDAQ:PRTH) had its price target increased by B. Riley from $13.00 to $16.00 in a research report sent 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 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.

A number of other research analysts also recently issued reports on the stock. Lake Street Capital upped their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods lifted their target price on Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd.

Priority Technology Price Performance

PRTH opened at $10.06 on Monday. The stock has a market capitalization of $776.29 million, a P/E ratio of -23.95 and a beta of 1.01. The company’s 50 day simple moving average is $6.89 and its 200-day simple moving average is $5.66. Priority Technology has a one year low of $2.79 and a one year high of $10.44.

Insiders Place Their Bets

In related news, insider Sean Kiewiet sold 11,664 shares of Priority Technology stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $6.61, for a total transaction of $77,099.04. Following the completion of the transaction, the insider now owns 1,073,494 shares in the company, valued at approximately $7,095,795.34. This trade represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 sale, the chief accounting officer now owns 11,587 shares in the company, valued at $71,028.31. This represents a 46.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,302 shares of company stock worth $286,501. Corporate insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 156,044 shares during the period. Rebalance LLC acquired a new position in shares of Priority Technology in the third quarter valued at approximately $4,822,000. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 21,598 shares during the last quarter. Corsair Capital Management L.P. increased its stake in shares of Priority Technology by 10.5% during the third 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 period. Finally, Pekin Hardy Strauss Inc. lifted its holdings in Priority Technology by 17.0% during 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 last quarter. 11.52% of the stock is 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.