Priority Technology (NASDAQ:PRTH) Issues Earnings Results

Priority Technology (NASDAQ:PRTH) announced its earnings results on Thursday. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13, Zacks reports. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. Priority Technology updated its FY 2025 guidance to EPS.

Priority Technology Trading Down 9.3 %

Priority Technology stock traded down $0.85 during midday trading on Thursday, hitting $8.24. 633,861 shares of the stock were exchanged, compared to its average volume of 698,080. The stock’s 50-day simple moving average is $10.42 and its 200 day simple moving average is $8.28. Priority Technology has a fifty-two week low of $2.82 and a fifty-two week high of $12.47. The stock has a market capitalization of $635.73 million, a price-to-earnings ratio of -19.60 and a beta of 0.99.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Lake Street Capital boosted their price target on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. B. Riley boosted their target price on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Keefe, Bruyette & Woods raised Priority Technology from a “market perform” rating to an “outperform” rating and increased their price target for the company from $10.00 to $14.00 in a report on Thursday, January 16th.

Insider Buying and Selling at Priority Technology

In related news, insider Sean Kiewiet sold 170,596 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $10.60, for a total value of $1,808,317.60. Following the transaction, the insider now directly owns 711,853 shares in the company, valued at approximately $7,545,641.80. This represents a 19.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Charles Priore sold 294,167 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $7.44, for a total value of $2,188,602.48. Following the sale, the chief executive officer now directly owns 34,025,319 shares of the company’s stock, valued at approximately $253,148,373.36. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,293,227 shares of company stock worth $39,921,204 in the last ninety days. 76.30% of the stock is owned by insiders.

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.