Repay (NASDAQ:RPAY) Given New $12.00 Price Target at Canaccord Genuity Group

Repay (NASDAQ:RPAY) had its price target trimmed by Canaccord Genuity Group from $13.00 to $12.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on RPAY. Keefe, Bruyette & Woods cut their price target on shares of Repay from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets cut their price target on shares of Repay from $10.00 to $8.00 and set a “market perform” rating on the stock in a research report on Tuesday. UBS Group cut their price target on shares of Repay from $9.50 to $7.50 and set a “neutral” rating on the stock in a research report on Tuesday. DA Davidson reiterated a “buy” rating and issued a $14.00 price target on shares of Repay in a research report on Thursday, February 27th. Finally, Stephens reissued an “overweight” rating and set a $11.00 target price on shares of Repay in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.56.

Repay Stock Performance

Shares of NASDAQ:RPAY opened at $6.11 on Tuesday. The company has a market capitalization of $596.54 million, a price-to-earnings ratio of -7.02 and a beta of 1.43. The firm’s 50 day simple moving average is $7.43 and its 200 day simple moving average is $7.87. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.70 and a quick ratio of 2.70. Repay has a fifty-two week low of $6.00 and a fifty-two week high of $11.27.

Insider Buying and Selling

In other news, CFO Timothy John Murphy sold 57,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $8.25, for a total transaction of $470,250.00. Following the completion of the transaction, the chief financial officer now directly owns 450,879 shares of the company’s stock, valued at $3,719,751.75. This trade represents a 11.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Repay

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in Repay during the 3rd quarter valued at $1,122,000. Villanova Investment Management Co LLC raised its stake in Repay by 71.7% in the third quarter. Villanova Investment Management Co LLC now owns 281,439 shares of the company’s stock valued at $2,297,000 after purchasing an additional 117,573 shares in the last quarter. Millrace Asset Group Inc. raised its stake in Repay by 216.7% in the third quarter. Millrace Asset Group Inc. now owns 323,139 shares of the company’s stock valued at $2,637,000 after purchasing an additional 221,102 shares in the last quarter. Barclays PLC raised its stake in Repay by 2,382.5% in the third quarter. Barclays PLC now owns 1,486,977 shares of the company’s stock valued at $12,134,000 after purchasing an additional 1,427,078 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Repay by 29.5% in the third quarter. JPMorgan Chase & Co. now owns 492,166 shares of the company’s stock valued at $4,016,000 after acquiring an additional 112,125 shares during the last quarter. 82.73% of the stock is owned by institutional investors.

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.