Repay Holdings Corp (NASDAQ:RPAY) has reported a recent transaction involving its Executive Vice President, Jacob Hamilton Moore. According to the latest filing, Moore sold a total of 7,198 shares of the company's Class A Common Stock at an average price of $8.18 per share, totaling approximately $58,879.
The sales took place on September 6, 2024, and were executed in multiple transactions with prices ranging from $8.12 to $8.33. This weighted average sales price reflects a mix of individual trades made within the specified price range. Moore has committed to providing further details on the number of shares sold at each specific price upon request from the company, its shareholders, or the SEC.
On the same day, Moore also acquired 7,198 shares at $6.13 each, amounting to a total of $44,123. These shares were obtained through the exercise of stock options as part of the company's employee compensation plan. Following these transactions, Moore's direct ownership in Repay Holdings Corp stands at 140,130 shares of Class A Common Stock.
The executive's transactions have been duly reported in accordance with SEC regulations. Repay Holdings Corp, based in Atlanta, Georgia, operates in the business services sector and has been previously known as Thunder Bridge Acquisition Ltd before its name change.
Investors and stakeholders often monitor such filings to understand the behavior of company insiders, which can provide insights into their perspective on the company's current valuation and future prospects.
In other recent news, Repay Holdings Corporation announced a robust Q2 performance with a 7% increase in gross profit and a 10% rise in adjusted EBITDA. The company's free cash flow conversion reached 57%, with expectations to exceed the 60% full-year target in Q3. Repay has expanded its client base, particularly in the Consumer Payments segment, and fortified its financial position through a convertible notes offering and an expanded credit facility. The company projects revenues between $214 million and $220 million, and adjusted EBITDA between $139 million and $142 million for the year. Growth in the Business Payments segment was driven by new enterprise clients and expanded software partnerships. Repay anticipates a 20% growth impact from the 2024 presidential election cycle, with 85% of that impact in the second half of the year. The company is focusing on profitable growth and efficiency while investing in innovation, automation, and M&A opportunities.
InvestingPro Insights
As Repay Holdings Corp (NASDAQ:RPAY) navigates through its financial year, certain metrics and analyst perspectives provided by InvestingPro offer a deeper understanding of the company's current standing and future potential. With a market capitalization of $739.76 million, RPAY's valuation reflects investor sentiment and market conditions. Despite not having turned a profit over the last twelve months, the company's net income is expected to grow this year, aligning with the insights from analysts predicting profitability for RPAY within the same timeframe.
InvestingPro data indicates that RPAY's revenue has seen a growth of 5.3% over the last twelve months as of Q2 2024, signifying a steady upward trend in the company's earnings. Moreover, the gross profit margin stands at a robust 76.99%, suggesting that RPAY is effective in managing its cost of goods sold and maintaining profitability at the gross level. However, the P/E ratio is currently negative at -8.13, reflecting the market's expectations of future earnings and the challenges RPAY faces in achieving profitability.
An InvestingPro Tip highlights that RPAY's liquid assets exceed its short-term obligations, indicating a solid liquidity position that could support ongoing operations and strategic initiatives. This is a crucial factor for investors considering the financial health and resilience of the company.
Investors interested in the detailed analysis and additional InvestingPro Tips can find 6 more tips on RPAY at InvestingPro, providing a comprehensive outlook on the company's financial performance and stock valuation.
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