Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Rating) - Equities researchers at B. Riley reduced their Q2 2022 earnings estimates for Priority Technology in a research report issued on Monday, May 16th. B. Riley analyst S. Moss now expects that the company will post earnings per share of ($0.07) for the quarter, down from their prior estimate of ($0.04). B. Riley currently has a "Buy" rating on the stock. B. Riley also issued estimates for Priority Technology's Q3 2022 earnings at ($0.06) EPS and FY2022 earnings at ($0.27) EPS.
Separately, Zacks Investment Research downgraded shares of Priority Technology from a "hold" rating to a "sell" rating in a report on Wednesday, March 23rd.
Priority Technology stock opened at $4.75 on Thursday. The firm has a market capitalization of $369.24 million, a price-to-earnings ratio of -10.80 and a beta of 0.63. The company's 50 day simple moving average is $5.29 and its 200 day simple moving average is $5.84. Priority Technology has a fifty-two week low of $4.32 and a fifty-two week high of $8.38. Priority Technology (NASDAQ:PRTH - Get Rating) last released its quarterly earnings data on Wednesday, May 11th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Priority Technology had a negative return on equity of 0.27% and a negative net margin of 0.37%. The firm had revenue of $153.24 million for the quarter, compared to the consensus estimate of $151.54 million. During the same period in the previous year, the business earned ($0.04) EPS.
A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in Priority Technology by 14.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 17,626 shares of the company's stock worth $118,000 after buying an additional 2,205 shares during the period. Barclays PLC raised its holdings in shares of Priority Technology by 223.1% in the third quarter. Barclays PLC now owns 4,078 shares of the company's stock valued at $27,000 after purchasing an additional 2,816 shares during the last quarter. UBS Group AG raised its holdings in shares of Priority Technology by 68.2% in the first quarter. UBS Group AG now owns 7,184 shares of the company's stock valued at $42,000 after purchasing an additional 2,913 shares during the last quarter. State Street Corp raised its holdings in shares of Priority Technology by 3.6% in the first quarter. State Street Corp now owns 132,886 shares of the company's stock valued at $764,000 after purchasing an additional 4,648 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Priority Technology by 260.8% in the fourth quarter. Bank of America Corp DE now owns 8,064 shares of the company's stock valued at $57,000 after purchasing an additional 5,829 shares during the last quarter. Hedge funds and other institutional investors own 12.97% of the company's stock.
Priority Technology Company Profile (Get Rating)
Priority Technology Holdings, Inc operates as a payment technology company in the United States. It operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business Payments, and Enterprise Payments. The company offers MX product line, including 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 as our leverage point.
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