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

Repay (NASDAQ:RPAY)‘s stock had its “buy” rating reaffirmed by Canaccord Genuity Group in a note issued to investors on Wednesday,Benzinga reports. They currently have a $13.00 price target on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 62.70% from the company’s previous close.

Several other research firms have also commented on RPAY. Barclays reduced their price target on Repay from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Benchmark reaffirmed a “buy” rating and set a $13.00 target price on shares of Repay in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.29.

Repay Price Performance

RPAY opened at $7.99 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.83 and a current ratio of 2.70. Repay has a twelve month low of $7.03 and a twelve month high of $11.27. The firm’s 50-day moving average price is $8.08 and its 200 day moving average price is $9.12.

Repay (NASDAQ:RPAY) last issued its earnings results on Tuesday, November 12th. The company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Repay had a positive return on equity of 8.73% and a negative net margin of 25.53%. The business had revenue of $79.15 million for the quarter, compared to analysts’ expectations of $78.97 million. During the same period in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts expect that Repay will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Repay

In other Repay news, EVP Jacob Hamilton Moore sold 210,632 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $8.31, for a total value of $1,750,351.92. Following the sale, the executive vice president now owns 240,130 shares of the company’s stock, valued at $1,995,480.30. The trade was a 46.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 269,524 shares of company stock valued at $2,222,784 over the last 90 days. 11.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Repay

Several institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its position in Repay by 340.0% in the 3rd quarter. Blue Trust Inc. now owns 3,586 shares of the company’s stock valued at $29,000 after acquiring an additional 2,771 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Repay in the third quarter valued at approximately $59,000. Entropy Technologies LP purchased a new stake in Repay during the 3rd quarter worth approximately $109,000. Squarepoint Ops LLC acquired a new stake in Repay during the 2nd quarter worth approximately $142,000. Finally, Creative Planning acquired a new stake in Repay during the 3rd quarter worth approximately $115,000. Hedge funds and other institutional investors own 82.73% of the company’s stock.

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.