B. Riley Issues Positive Forecast for Priority Technology (NASDAQ:PRTH) Stock Price

Priority Technology (NASDAQ:PRTH) had its price objective lifted by equities researchers at B. Riley from $13.00 to $16.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective suggests a potential upside of 59.68% from the stock’s current price. B. Riley also issued estimates for Priority Technology’s Q4 2024 earnings at $0.06 EPS and FY2026 earnings at $1.16 EPS.

A number of other research firms also recently weighed in on PRTH. Lake Street Capital raised their price target on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods lifted their target price on shares of 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 Stock Up 14.6 %

Shares of NASDAQ:PRTH opened at $10.02 on Monday. The firm has a fifty day moving average of $6.75 and a two-hundred day moving average of $5.60. The firm has a market capitalization of $773.24 million, a P/E ratio of -23.86 and a beta of 1.01. Priority Technology has a 12-month low of $2.79 and a 12-month high of $10.05.

Insider Activity at Priority Technology

In related news, CAO Rajiv Kumar sold 10,000 shares of the firm’s 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 in the company, valued at $71,028.31. This trade represents a 46.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sean Kiewiet sold 4,954 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $5.41, for a total transaction of $26,801.14. Following the sale, the insider now owns 1,085,158 shares in the company, valued at approximately $5,870,704.78. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,302 shares of company stock worth $286,501 over the last ninety days. Company insiders own 76.30% of the company’s stock.

Institutional Trading of Priority Technology

Several hedge funds and other institutional investors have recently modified their holdings of PRTH. Virtu Financial LLC acquired a new position in shares of Priority Technology in the 1st quarter valued at approximately $50,000. Williams & Novak LLC bought a new stake in Priority Technology during the 2nd quarter worth approximately $77,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Priority Technology in the 1st quarter valued at $91,000. BNP Paribas Financial Markets boosted its stake in shares of 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Priority Technology in the 3rd quarter valued at $112,000. Institutional investors own 11.52% 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.