Priority Technology (NASDAQ:PRTH) Announces Quarterly Earnings Results

Priority Technology (NASDAQ:PRTH - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02, Zacks reports. The company had revenue of $205.72 million during the quarter, compared to analysts' expectations of $209.08 million. During the same quarter in the previous year, the company earned ($0.15) EPS. Priority Technology updated its FY 2024 guidance to EPS.

Priority Technology Stock Up 2.8 %

NASDAQ:PRTH traded up $0.10 on Friday, reaching $3.64. 23,769 shares of the company's stock traded hands, compared to its average volume of 26,343. The stock has a 50-day simple moving average of $3.22 and a 200-day simple moving average of $3.34. Priority Technology has a 12 month low of $2.62 and a 12 month high of $5.03. The firm has a market cap of $275.88 million, a PE ratio of -5.78 and a beta of 0.87.

Analysts Set New Price Targets

Separately, B. Riley boosted their price objective on Priority Technology from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, March 13th.

Insider Transactions at Priority Technology

In related news, insider Sean Kiewiet sold 10,000 shares of Priority Technology stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $3.30, for a total transaction of $33,000.00. Following the sale, the insider now owns 1,351,853 shares of the company's stock, valued at approximately $4,461,114.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 76.30% 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.

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