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

Priority Technology (NASDAQ:PRTH) posted its quarterly earnings results on Thursday. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates 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 9.1 %

PRTH stock traded down $0.82 on Thursday, hitting $8.26. The company had a trading volume of 480,055 shares, compared to its average volume of 694,049. Priority Technology has a 12-month low of $2.82 and a 12-month high of $12.47. The stock’s 50-day simple moving average is $10.42 and its 200 day simple moving average is $8.28. The stock has a market cap of $637.35 million, a price-to-earnings ratio of -19.85 and a beta of 0.99.

Analysts Set New Price Targets

PRTH has been the topic of a number of recent analyst reports. Lake Street Capital increased 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. B. Riley increased their price target on shares of Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Keefe, Bruyette & Woods upgraded shares of Priority Technology from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $10.00 to $14.00 in a report on Thursday, January 16th.

Insider Buying and Selling

In other Priority Technology news, insider Sean Kiewiet sold 170,596 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were 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 trade represents a 19.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Vito Priore sold 3,454,575 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $7.44, for a total transaction of $25,702,038.00. Following the completion of the transaction, the director now owns 5,314,430 shares in the company, valued at $39,539,359.20. The trade was a 39.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,293,227 shares of company stock worth $39,921,204. 76.30% of the stock is owned by insiders.

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.