Repay Holdings Corp (NASDAQ:RPAY) Chief Financial Officer Timothy John Murphy recently sold 57,000 shares of the company's Class A Common Stock. The shares were sold at a weighted average price of $8.25, totaling approximately $470,250. This transaction was executed on December 11, 2024, under a Rule 10b5-1 plan that Murphy adopted on September 6, 2024. According to InvestingPro data, the stock currently trades at $8.16, with analysts setting price targets ranging from $9 to $14. While the company isn't currently profitable, analysts expect positive earnings this fiscal year.
Following this sale, Murphy retains direct ownership of 450,879 shares. Additionally, he holds an indirect interest in 52,000 shares through a charitable remainder trust, where he serves as trustee and his spouse is an indirect beneficiary.
Murphy has disclaimed beneficial ownership of the indirectly held shares, except where he has a pecuniary interest.
In other recent news, Repay Holdings Corporation reported solid third-quarter results, with revenues increasing by 6% to $79.1 million and gross profit rising by 9%. The company's adjusted EBITDA also grew by 10%, reaching $35.1 million, while free cash flow hit $48.8 million, marking a 139% conversion rate. These results were primarily driven by strategic improvements in market strategies, client services, and product development, leading to key client additions and partnerships.
DA Davidson recently adjusted its outlook on Repay, revising the shares target downward to $14 from the previous $16, but maintaining a Buy rating on the stock. This revision followed Repay's Q3 results, which matched DA Davidson's revenue projections and exceeded the forecast for adjusted EBITDA by 1%. The quarter's performance was notably boosted by an unexpected increase in political media spending within the Business Payments segment.
Repay's management has reaffirmed their financial guidance for 2024, prompting DA Davidson to adjust its annual forecasts for the company for the years 2024 through 2026. Despite these changes, the firm maintains a positive outlook on the company. The company also raised its 2024 revenue forecast to between $314 million and $320 million, with an adjusted EBITDA projection of $139 million to $142 million.
Despite facing headwinds from normalizing consumer spending and client attrition, Repay is anticipating growth in FY 2025, focusing on recurring revenue streams and strategic initiatives. The Business Payments segment, in particular, has shown significant growth, primarily driven by new enterprise clients. These are the recent developments in Repay's financial performance and strategic direction.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.