Priority Technology (NASDAQ:PRTH) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Priority Technology (NASDAQ:PRTH) issued its quarterly earnings results on Thursday. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02), Zacks reports. The business had revenue of $241.44 million for the quarter, compared to analysts’ expectations of $251.74 million. Priority Technology had a net margin of 5.78% and a negative return on equity of 55.76%. Priority Technology updated its FY 2025 guidance to EPS.

Priority Technology Stock Up 0.4%

Priority Technology stock traded up $0.02 on Friday, hitting $4.87. The company’s stock had a trading volume of 1,458,425 shares, compared to its average volume of 502,379. The company has a fifty day moving average price of $7.20 and a 200-day moving average price of $7.51. The firm has a market cap of $389.21 million, a P/E ratio of 9.19 and a beta of 1.85. Priority Technology has a one year low of $4.44 and a one year high of $12.47.

Analyst Upgrades and Downgrades

PRTH has been the subject of a number of research reports. Wall Street Zen upgraded Priority Technology from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Cowen reissued a “buy” rating on shares of Priority Technology in a research report on Friday, August 8th. Zacks Research cut Priority Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research note on Wednesday, October 8th. Finally, Alliance Global Partners restated a “buy” rating on shares of Priority Technology in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Priority Technology by 13.9% during the third quarter. Vanguard Group Inc. now owns 1,487,948 shares of the company’s stock worth $10,222,000 after purchasing an additional 181,795 shares during the period. State of Wyoming raised its holdings in shares of Priority Technology by 34.4% in the 2nd quarter. State of Wyoming now owns 45,208 shares of the company’s stock worth $352,000 after buying an additional 11,582 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Priority Technology during the 2nd quarter worth approximately $463,000. Engineers Gate Manager LP acquired a new stake in Priority Technology in the 2nd quarter valued at $223,000. Finally, Boothbay Fund Management LLC raised its stake in Priority Technology by 41.1% during the second quarter. Boothbay Fund Management LLC now owns 126,263 shares of the company’s stock worth $982,000 after acquiring an additional 36,793 shares in the last quarter. Institutional investors and hedge funds own 11.52% 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.