Repay (NASDAQ:RPAY) Sees Unusually-High Trading Volume – Here’s What Happened

Repay Holdings Co. (NASDAQ:RPAY) shares saw unusually-high trading volume on Wednesday . Approximately 4,358,206 shares changed hands during mid-day trading, an increase of 440% from the previous session’s volume of 806,661 shares.The stock last traded at $5.67 and had previously closed at $5.64.

Analyst Upgrades and Downgrades

RPAY has been the topic of a number of recent research reports. UBS Group lowered their price objective on Repay from $9.50 to $7.50 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Barclays dropped their price target on shares of Repay from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Canaccord Genuity Group reduced their price target on shares of Repay from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. DA Davidson reiterated a “buy” rating and issued a $14.00 price objective on shares of Repay in a research report on Thursday, February 27th. Finally, BMO Capital Markets reduced their target price on Repay from $10.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.31.

Repay Trading Down 7.6 %

The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $519.61 million, a PE ratio of -6.13 and a beta of 1.64. The business’s 50-day moving average is $6.65 and its two-hundred day moving average is $7.49.

Hedge Funds Weigh In On Repay

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP acquired a new position in Repay in the third quarter valued at $37,197,000. Barclays PLC increased its position in Repay by 2,382.5% in the 3rd quarter. Barclays PLC now owns 1,486,977 shares of the company’s stock valued at $12,134,000 after acquiring an additional 1,427,078 shares during the period. Millennium Management LLC raised its stake in Repay by 120.6% during the 4th quarter. Millennium Management LLC now owns 1,737,811 shares of the company’s stock valued at $13,259,000 after acquiring an additional 950,185 shares during the last quarter. Private Management Group Inc. lifted its position in Repay by 71.6% during the 4th quarter. Private Management Group Inc. now owns 1,740,150 shares of the company’s stock worth $13,277,000 after acquiring an additional 726,058 shares during the period. Finally, Royce & Associates LP grew its stake in shares of Repay by 60.6% in the 4th quarter. Royce & Associates LP now owns 1,812,074 shares of the company’s stock valued at $13,826,000 after purchasing an additional 683,548 shares during the last quarter. 82.73% of the stock is 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.