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

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

Priority Technology Stock Up 0.4%

NASDAQ:PRTH traded up $0.02 during trading hours on Friday, reaching $4.87. 1,458,425 shares of the company’s stock were exchanged, compared to its average volume of 502,379. The company has a market capitalization of $389.21 million, a P/E ratio of 9.19 and a beta of 1.85. Priority Technology has a 12 month low of $4.44 and a 12 month high of $12.47. The business’s 50-day simple moving average is $7.20 and its two-hundred day simple moving average is $7.51.

Institutional Investors Weigh In On Priority Technology

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new stake in shares of Priority Technology during the first quarter worth $2,292,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Priority Technology by 25.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company’s stock worth $89,000 after buying an additional 2,648 shares during the period. NewEdge Advisors LLC raised its holdings in Priority Technology by 1,134.1% during the 1st quarter. NewEdge Advisors LLC now owns 15,759 shares of the company’s stock worth $107,000 after buying an additional 14,482 shares during the period. Strs Ohio purchased a new stake in Priority Technology during the first quarter valued at about $46,000. Finally, Rhumbline Advisers boosted its holdings in shares of Priority Technology by 10.2% in the first quarter. Rhumbline Advisers now owns 26,131 shares of the company’s stock worth $178,000 after buying an additional 2,425 shares during the period. 11.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PRTH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Priority Technology in a report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Priority Technology in a research note on Friday, August 8th. Zacks Research cut shares of Priority Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Industrial Alliance Securities set a $11.00 target price on Priority Technology in a report on Thursday. Finally, Alliance Global Partners restated a “buy” rating on shares of Priority Technology in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Priority Technology has an average rating of “Moderate Buy” and a consensus target price of $12.50.

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.