Repay (NASDAQ:RPAY) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Repay (NASDAQ:RPAY) from a buy rating to a hold rating in a research report sent to investors on Friday, reports.

According to Zacks, “Repay Holdings Corporation provides payment processing solutions. The company’s proprietary, integrated payment technology platform reduces complexity of electronic payments for merchants. Repay Holdings Corporation, formerly known as Thunder Bridge Acquisition Ltd, is based in Atlanta, Georgia. “

RPAY has been the subject of a number of other research reports. Cantor Fitzgerald started coverage on Repay in a research report on Thursday, September 5th. They set an overweight rating and a $14.00 price target for the company. BTIG Research started coverage on Repay in a research report on Tuesday, July 16th. They set a buy rating and a $16.00 price target for the company.

Shares of RPAY stock opened at $14.00 on Friday. Repay has a 1-year low of $9.61 and a 1-year high of $14.20. The stock’s fifty day simple moving average is $12.46. The stock has a market cap of $433.44 million, a P/E ratio of -100.00 and a beta of -0.05.

A hedge fund recently bought a new stake in Repay stock. Marshall Wace North America L.P. purchased a new position in shares of Repay Holdings Corporation (NASDAQ:RPAY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 240,227 shares of the company’s stock, valued at approximately $2,506,000. Marshall Wace North America L.P. owned 0.74% of Repay as of its most recent filing with the Securities and Exchange Commission. 53.13% of the stock is currently owned by hedge funds and other institutional investors.

About Repay

Repay Holdings Corporation provides integrated payment processing solutions in the United States. The company offers credit and debit card processing, automated clearing house processing, and funding solutions. It primarily serves clients in consumer finance, automotive, receivables management, and healthcare sectors, as well as financial institutions.

See Also: Initial Coin Offering (ICO)

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