Repay Holdings Corporation (NASDAQ:RPAY) Shares Sold by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management Inc. reduced its shareholding in Repay Holdings Corporation by 7.1%, selling 94,377 shares and retaining 1,227,625 shares worth $6.8 million as of the latest filing.
• Institutional investors collectively own 82.73% of Repay's stock, with numerous hedge funds increasing their positions significantly in recent quarters.
• Repay's Board of Directors has initiated a $75 million share buyback program, indicating management's belief that the company's shares are undervalued.

Thornburg Investment Management Inc. decreased its stake in Repay Holdings Corporation (NASDAQ:RPAY - Free Report) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,227,625 shares of the company's stock after selling 94,377 shares during the quarter. Thornburg Investment Management Inc. owned about 1.26% of Repay worth $6,838,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RPAY. Spire Wealth Management increased its position in Repay by 52.5% during the 1st quarter. Spire Wealth Management now owns 7,610 shares of the company's stock valued at $42,000 after purchasing an additional 2,620 shares during the period. Principal Financial Group Inc. grew its position in shares of Repay by 9.0% in the 1st quarter. Principal Financial Group Inc. now owns 166,377 shares of the company's stock worth $927,000 after buying an additional 13,722 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Repay by 42.8% in the 4th quarter. ProShare Advisors LLC now owns 24,424 shares of the company's stock worth $186,000 after buying an additional 7,323 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Repay by 3.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 134,927 shares of the company's stock worth $1,029,000 after buying an additional 4,980 shares during the last quarter. Finally, Private Management Group Inc. grew its position in shares of Repay by 52.6% in the 1st quarter. Private Management Group Inc. now owns 2,654,679 shares of the company's stock worth $14,787,000 after buying an additional 914,529 shares during the last quarter. Institutional investors own 82.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Barclays lowered their target price on shares of Repay from $9.00 to $6.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Morgan Stanley set a $4.50 price target on shares of Repay in a report on Wednesday, May 14th. Keefe, Bruyette & Woods cut their price target on shares of Repay from $6.50 to $4.50 and set a "market perform" rating for the company in a report on Tuesday, May 13th. Citigroup cut their price target on shares of Repay from $8.00 to $4.50 and set a "neutral" rating for the company in a report on Monday, May 19th. Finally, Wall Street Zen downgraded shares of Repay from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Repay presently has an average rating of "Moderate Buy" and a consensus price target of $7.90.

Insider Transactions at Repay

In related news, President Shaler Alias bought 174,404 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $4.15 per share, with a total value of $723,776.60. Following the completion of the transaction, the president directly owned 249,404 shares of the company's stock, valued at $1,035,026.60. This represents a 232.54% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Andrew Sr. Morris bought 163,041 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was bought at an average cost of $4.20 per share, for a total transaction of $684,772.20. Following the transaction, the chief executive officer directly owned 253,041 shares of the company's stock, valued at $1,062,772.20. The trade was a 181.16% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 439,702 shares of company stock worth $1,806,974 in the last ninety days. 12.00% of the stock is currently owned by corporate insiders.

Repay Trading Down 1.8%

Shares of RPAY traded down $0.09 during mid-day trading on Friday, reaching $4.83. The stock had a trading volume of 997,329 shares, compared to its average volume of 1,240,612. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.71 and a quick ratio of 3.71. Repay Holdings Corporation has a 52-week low of $3.59 and a 52-week high of $9.75. The business's fifty day moving average is $4.90 and its 200 day moving average is $5.50. The firm has a market cap of $480.30 million, a price-to-earnings ratio of -32.20 and a beta of 1.59.

Repay (NASDAQ:RPAY - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). Repay had a negative net margin of 4.16% and a positive return on equity of 8.49%. The firm had revenue of $77.33 million during the quarter, compared to analysts' expectations of $76.06 million. During the same period in the prior year, the company posted $0.23 EPS. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Repay Holdings Corporation will post 0.72 EPS for the current fiscal year.

Repay announced that its Board of Directors has initiated a stock buyback program on Monday, May 12th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to buy up to 19% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

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.