Canaccord Genuity Group Reiterates Buy Rating for Repay (NASDAQ:RPAY)

Repay (NASDAQ:RPAY)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity Group in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $13.00 price objective on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 60.69% from the company’s current price.

A number of other equities research analysts have also recently issued reports on RPAY. Benchmark reaffirmed a “buy” rating and issued a $13.00 target price on shares of Repay in a report on Tuesday, August 13th. DA Davidson reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Repay in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $11.00 target price on shares of Repay in a report on Wednesday, July 3rd. Finally, Barclays dropped their price target on Repay from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Repay has a consensus rating of “Moderate Buy” and an average target price of $11.33.

Repay Stock Up 1.0 %

Shares of RPAY stock opened at $8.09 on Wednesday. The firm’s fifty day moving average price is $8.65 and its two-hundred day moving average price is $9.68. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.52. Repay has a 1 year low of $5.63 and a 1 year high of $11.27. The firm has a market capitalization of $790.80 million, a P/E ratio of -8.26 and a beta of 1.44.

Repay (NASDAQ:RPAY) last released its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. Repay had a negative net margin of 29.01% and a positive return on equity of 8.34%. The business had revenue of $74.91 million during the quarter, compared to analysts’ expectations of $76.28 million. During the same period last year, the business earned $0.14 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that Repay will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jacob Hamilton Moore sold 51,694 shares of Repay stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $8.00, for a total value of $413,552.00. Following the completion of the sale, the executive vice president now directly owns 140,130 shares in the company, valued at $1,121,040. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 269,524 shares of company stock valued at $2,222,784. 11.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RPAY. Sanctuary Advisors LLC bought a new stake in shares of Repay in the second quarter worth $190,000. Algert Global LLC increased its stake in Repay by 121.4% in the second quarter. Algert Global LLC now owns 43,487 shares of the company’s stock valued at $459,000 after purchasing an additional 23,841 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Repay by 13.6% during the second quarter. The Manufacturers Life Insurance Company now owns 34,578 shares of the company’s stock worth $365,000 after purchasing an additional 4,138 shares during the period. Millennium Management LLC raised its holdings in Repay by 182.1% during the second quarter. Millennium Management LLC now owns 2,329,671 shares of the company’s stock worth $24,601,000 after buying an additional 1,503,919 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Repay by 46.8% in the second quarter. AQR Capital Management LLC now owns 51,012 shares of the company’s stock valued at $539,000 after buying an additional 16,272 shares in the last quarter. 82.73% of the stock is currently owned by institutional investors and hedge funds.

About Repay

Repay Holdings Corporation, payments technology company, provides integrated payment processing solutions to industry-oriented markets in the United States. It operates through two segments: Consumer Payments and Business Payments. The company's payment processing solutions enable consumers and businesses to make payments using electronic payment methods.