Priority Technology (NASDAQ:PRTH) Posts Earnings Results, Beats Estimates By $0.13 EPS

Priority Technology (NASDAQ:PRTH) posted its quarterly earnings results on Thursday. The company reported $0.18 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 %

Shares of NASDAQ PRTH traded down $0.85 during mid-day trading on Thursday, reaching $8.24. The company had a trading volume of 633,861 shares, compared to its average volume of 698,080. Priority Technology has a 52-week low of $2.82 and a 52-week high of $12.47. The stock has a market cap of $635.73 million, a P/E ratio of -19.60 and a beta of 0.99. The firm has a 50 day simple moving average of $10.42 and a two-hundred day simple moving average of $8.28.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Priority Technology news, COO Ranjana Ram sold 6,615 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total transaction of $49,215.60. Following the completion of the sale, the chief operating officer now directly owns 686,389 shares of the company’s stock, valued at approximately $5,106,734.16. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Charles Priore sold 105,833 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total value of $787,397.52. Following the completion of the transaction, the chief executive officer now directly owns 33,919,486 shares in the company, valued at approximately $252,360,975.84. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,293,227 shares of company stock valued at $39,921,204. Insiders own 76.30% of the company’s stock.

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.