Repay’s (RPAY) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Repay (NASDAQ:RPAY) in a report released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a $8.00 target price on the stock.

RPAY has been the topic of several other research reports. Weiss Ratings upgraded shares of Repay from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. DA Davidson reiterated a “buy” rating and issued a $6.00 target price on shares of Repay in a research report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Repay presently has a consensus rating of “Hold” and an average target price of $5.25.

Repay Stock Performance

NASDAQ:RPAY opened at $4.03 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.45 and a quick ratio of 1.43. Repay has a fifty-two week low of $2.30 and a fifty-two week high of $5.25. The stock’s 50-day moving average is $3.80 and its two-hundred day moving average is $3.67. The stock has a market cap of $383.45 million, a PE ratio of -1.98 and a beta of 1.89.

Repay (NASDAQ:RPAY) last issued its earnings results on Monday, August 10th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The business had revenue of $100.71 million during the quarter, compared to analyst estimates of $101.86 million. Repay had a negative net margin of 49.57% and a positive return on equity of 11.03%. As a group, equities research analysts forecast that Repay will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Repay news, General Counsel Tyler Dempsey sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $3.91, for a total value of $97,750.00. Following the transaction, the general counsel directly owned 466,251 shares of the company’s stock, valued at $1,823,041.41. This represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 50,000 shares of company stock valued at $197,780. Corporate insiders own 12.00% of the company’s stock.

Institutional Investors Weigh In On Repay

Several institutional investors have recently made changes to their positions in RPAY. Bank of America Corp DE increased its holdings in Repay by 79.6% in the first quarter. Bank of America Corp DE now owns 495,656 shares of the company’s stock worth $1,289,000 after buying an additional 219,747 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Repay during the second quarter valued at approximately $842,000. Essential Partners LLC lifted its stake in Repay by 69.8% in the first quarter. Essential Partners LLC now owns 9,612 shares of the company’s stock valued at $25,000 after acquiring an additional 3,950 shares during the last quarter. Empowered Funds LLC lifted its stake in Repay by 9.9% in the first quarter. Empowered Funds LLC now owns 510,504 shares of the company’s stock valued at $1,327,000 after acquiring an additional 45,939 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Repay in the first quarter valued at approximately $217,000. 82.73% of the stock is currently owned by institutional investors and hedge funds.

About Repay

Repay Holdings Corporation, doing business as REPAY, is a financial technology company that provides integrated payment processing and accounts receivable management solutions. Its platform helps businesses accept, process and reconcile electronic payments through channels such as automated clearing house (ACH) transactions, debit and credit cards, digital wallets, online portals, text messages and interactive voice response systems.

REPAY serves organizations in several specialized industries, including consumer finance, automotive lending, healthcare, education, property management, government and business-to-business payments.