Thornburg Investment Management Inc. Has $6.84 Million Stock Position in Repay Holdings Corporation (NASDAQ:RPAY)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Repay in the 4th quarter valued at $27,000. Spire Wealth Management increased its stake in shares of Repay by 52.5% in the 1st quarter. Spire Wealth Management now owns 7,610 shares of the company's stock valued at $42,000 after buying an additional 2,620 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Repay in the 4th quarter valued at $47,000. Teacher Retirement System of Texas bought a new position in shares of Repay in the 1st quarter worth $61,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Repay in the 4th quarter worth $111,000. 82.73% of the stock is owned by institutional investors and hedge funds.

Repay Trading Down 1.8%

RPAY stock traded down $0.09 during midday trading on Friday, hitting $4.83. 997,329 shares of the company's stock were exchanged, compared to its average volume of 887,142. The stock's fifty day moving average price is $4.91 and its 200-day moving average price is $5.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.71 and a current ratio of 3.71. The company has a market cap of $480.30 million, a PE ratio of -32.20 and a beta of 1.64. Repay Holdings Corporation has a one year low of $3.59 and a one year high of $9.75.

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

Repay declared that its board has initiated a share buyback program on Monday, May 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 19% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RPAY shares. Citigroup reduced their price target on Repay from $8.00 to $4.50 and set a "neutral" rating on the stock in a research report on Monday, May 19th. UBS Group reduced their price target on Repay from $7.50 to $4.50 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. BMO Capital Markets reduced their price target on Repay from $7.00 to $5.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen lowered Repay from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Barclays reduced their price target on Repay from $9.00 to $6.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $7.90.

Insider Activity

In other news, CEO John Andrew Sr. Morris acquired 163,041 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average cost of $4.20 per share, for a total transaction of $684,772.20. Following the completion of the acquisition, the chief executive officer owned 253,041 shares in the company, valued at $1,062,772.20. This represents a 181.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Shaler Alias acquired 174,404 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average price of $4.15 per share, with a total value of $723,776.60. Following the completion of the acquisition, the president 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 disclosure for this purchase can be found here. Insiders have bought 439,702 shares of company stock valued at $1,806,974 over the last ninety days. 12.00% of the stock is owned by insiders.

Repay Company Profile

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.