Repay (NASDAQ:RPAY) Releases Quarterly Earnings Results, Meets Expectations

Repay (NASDAQ:RPAY) announced its quarterly earnings data on Monday. The company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22, FiscalAI reports. Repay had a positive return on equity of 9.30% and a negative net margin of 83.01%.The business had revenue of $80.79 million during the quarter, compared to the consensus estimate of $80.48 million.

Repay Trading Up 3.6%

Shares of RPAY traded up $0.14 during mid-day trading on Monday, reaching $4.00. 1,310,311 shares of the company were exchanged, compared to its average volume of 1,572,713. Repay has a 52 week low of $2.30 and a 52 week high of $6.05. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $364.68 million, a PE ratio of -1.32 and a beta of 1.88. The business has a 50 day simple moving average of $3.08 and a two-hundred day simple moving average of $3.47.

Hedge Funds Weigh In On Repay

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in Repay by 24.6% in the first quarter. Millennium Management LLC now owns 2,166,100 shares of the company’s stock valued at $12,065,000 after buying an additional 428,289 shares during the period. Empowered Funds LLC increased its holdings in Repay by 4.6% in the first quarter. Empowered Funds LLC now owns 497,625 shares of the company’s stock worth $2,772,000 after purchasing an additional 21,807 shares in the last quarter. Jane Street Group LLC increased its holdings in Repay by 57.6% in the first quarter. Jane Street Group LLC now owns 95,979 shares of the company’s stock worth $535,000 after purchasing an additional 35,068 shares in the last quarter. Creative Planning increased its holdings in Repay by 13.0% in the second quarter. Creative Planning now owns 64,340 shares of the company’s stock worth $310,000 after purchasing an additional 7,381 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Repay by 31.5% in the second quarter. Rhumbline Advisers now owns 174,531 shares of the company’s stock worth $841,000 after purchasing an additional 41,816 shares in the last quarter. 82.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RPAY shares. Canaccord Genuity Group dropped their price objective on shares of Repay from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 16th. Benchmark dropped their price objective on shares of Repay from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Morgan Stanley dropped their price objective on shares of Repay from $4.00 to $3.50 and set an “equal weight” rating for the company in a research note on Tuesday, March 10th. DA Davidson reissued a “buy” rating and issued a $8.00 price objective on shares of Repay in a research note on Tuesday, April 28th. Finally, UBS Group dropped their target price on Repay from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, March 11th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.53.

Repay Company Profile

Repay Holdings Corp. (Nasdaq: RPAY) is a specialized financial technology company that delivers integrated payment solutions to businesses operating within key vertical markets. The company’s platform enables merchants and service providers to accept a range of payment types, including credit and debit cards, automated clearing house (ACH) transfers and electronic checks. Repay’s offerings are designed to seamlessly integrate with third-party software applications, such as enterprise resource planning, customer relationship management and point-of-sale systems, empowering industries such as utilities, telecommunications, automotive finance, healthcare, insurance, property management and education.

Tracing its roots to the formation of Pinnacle Payment Systems in 1997, Repay expanded its capabilities through strategic acquisitions, including Southeastern Integrated Solutions and Payliance, before completing a business combination with Thunder Bridge Acquisition II in 2019 to become a publicly traded company on the Nasdaq.