Wellington Management Group LLP Acquires 207,212 Shares of Repay Holdings Corporation $RPAY

Key Points

• Wellington Management Group LLP increased its stake in Repay Holdings Corporation by 4.4%, now owning approximately 5.04% of the company, worth around $27.39 million.
• Repay reported $0.20 earnings per share, meeting consensus estimates, along with a revenue of $75.63 million for the quarter, surpassing analyst predictions.
• The company's Board of Directors has authorized a $75 million stock repurchase program, indicating management's belief that the stock is undervalued.

Wellington Management Group LLP raised its holdings in Repay Holdings Corporation (NASDAQ:RPAY - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,917,703 shares of the company's stock after acquiring an additional 207,212 shares during the quarter. Wellington Management Group LLP owned approximately 5.04% of Repay worth $27,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Repay by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 4,770,074 shares of the company's stock valued at $26,569,000 after purchasing an additional 82,196 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Repay by 6.1% in the 1st quarter. American Century Companies Inc. now owns 4,427,315 shares of the company's stock valued at $24,660,000 after purchasing an additional 255,667 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Repay by 6.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,339,948 shares of the company's stock valued at $33,114,000 after purchasing an additional 243,743 shares during the last quarter. Private Management Group Inc. boosted its stake in Repay by 52.6% during the first quarter. Private Management Group Inc. now owns 2,654,679 shares of the company's stock worth $14,787,000 after acquiring an additional 914,529 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Repay by 120.6% during the fourth quarter. Millennium Management LLC now owns 1,737,811 shares of the company's stock worth $13,259,000 after acquiring an additional 950,185 shares in the last quarter. 82.73% of the stock is currently owned by institutional investors and hedge funds.

Repay Stock Performance

NASDAQ RPAY traded up $0.06 during trading hours on Thursday, reaching $5.94. 679,110 shares of the company were exchanged, compared to its average volume of 1,216,829. Repay Holdings Corporation has a 1 year low of $3.59 and a 1 year high of $9.75. The business's 50 day simple moving average is $5.12 and its 200-day simple moving average is $5.23. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $542.56 million, a P/E ratio of -4.71 and a beta of 1.64.

Repay (NASDAQ:RPAY - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.20. Repay had a negative net margin of 35.79% and a positive return on equity of 8.89%. The business had revenue of $75.63 million during the quarter, compared to the consensus estimate of $74.24 million. During the same quarter last year, the company posted $0.22 earnings per share. The firm's quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts expect that Repay Holdings Corporation will post 0.72 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Repay from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Repay in a research note on Friday, August 22nd. BMO Capital Markets lowered their target price on shares of Repay from $7.00 to $5.00 and set a "market perform" rating for the company in a report on Tuesday, May 13th. Citigroup lowered their target price 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, Keefe, Bruyette & Woods increased their target price on shares of Repay from $5.00 to $5.75 and gave the company a "market perform" rating in a report on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $7.22.

Repay 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.