Repay Holdings Co. (NASDAQ:RPAY) Sees Significant Drop in Short Interest

Repay Holdings Co. (NASDAQ:RPAY - Get Free Report) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 6,310,000 shares, a drop of 16.1% from the April 30th total of 7,520,000 shares. Based on an average trading volume of 1,650,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 8.7% of the company's shares are sold short.

Insider Transactions at Repay

In related news, CEO John Andrew Sr. Morris acquired 86,761 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $3.89 per share, with a total value of $337,500.29. Following the transaction, the chief executive officer now directly owns 86,761 shares of the company's stock, valued at $337,500.29. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Shaler Alias bought 15,378 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average cost of $3.93 per share, for a total transaction of $60,435.54. Following the completion of the acquisition, the president now owns 264,782 shares of the company's stock, valued at $1,040,593.26. This trade represents a 6.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 439,702 shares of company stock valued at $1,806,974. 12.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Repay

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Repay in the 4th quarter valued at $27,000. R Squared Ltd acquired a new position in shares of Repay in the fourth quarter worth about $36,000. Spire Wealth Management increased its position in shares of Repay by 52.5% in the first quarter. Spire Wealth Management now owns 7,610 shares of the company's stock worth $42,000 after acquiring an additional 2,620 shares in the last quarter. Blue Trust Inc. grew its position in Repay by 57.9% during the 4th quarter. Blue Trust Inc. now owns 5,663 shares of the company's stock worth $46,000 after purchasing an additional 2,077 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in Repay during the 4th quarter valued at $47,000. 82.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RPAY shares. BMO Capital Markets reduced their price objective on Repay from $7.00 to $5.00 and set a "market perform" rating on the stock in a research note on Tuesday, May 13th. UBS Group lowered their price target on shares of Repay from $7.50 to $4.50 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley set a $4.50 price objective on shares of Repay in a report on Wednesday, May 14th. Barclays cut their price target on shares of Repay from $9.00 to $6.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, DA Davidson restated a "buy" rating and set a $14.00 price objective on shares of Repay in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.90.

Repay Stock Performance

RPAY traded down $0.15 during trading hours on Wednesday, hitting $4.96. The company's stock had a trading volume of 2,052,318 shares, compared to its average volume of 1,103,100. The company has a 50-day simple moving average of $4.51 and a 200 day simple moving average of $6.34. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $493.22 million, a PE ratio of -5.70 and a beta of 1.60. Repay has a fifty-two week low of $3.59 and a fifty-two week high of $11.27.

Repay (NASDAQ:RPAY - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). The business had revenue of $77.33 million for the quarter, compared to analyst estimates of $76.06 million. Repay had a negative net margin of 25.53% and a positive return on equity of 8.73%. Repay's revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. As a group, sell-side analysts expect that Repay will post 0.72 EPS for the current year.

Repay announced that its Board of Directors has approved a stock repurchase program on Monday, May 12th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 19% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

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.