Form 4: Forager Fund Discloses RPAY Stock Purchases

Forager Fund, L.P. has reported significant purchases of Repay Holdings Corp. (RPAY) Class A Common Stock across multiple transactions in early April 2026.

Summary

• Forager Fund, L.P., along with its general partner Forager Capital Management, LLC, and principals Edward Kissel and Robert MacArthur, have disclosed beneficial ownership changes related to Repay Holdings Corp. (RPAY).
• The filings detail multiple transactions involving Class A Common Stock of RPAY between April 7, 2026, and April 9, 2026.
• These transactions represent the acquisition of securities, with Forager Fund, L.P. directly holding the majority of the shares.
• The reporting persons are noted as directors and 10% owners of the issuer.
• Specific purchase prices are provided as weighted averages for each transaction date, with detailed price ranges disclosed in the explanations.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it reports on routine stock acquisitions by an existing major shareholder and director, without providing new performance data or strategic outlook.

Positives

• Significant investment activity by a 10% owner and director, indicating confidence in the company.
• Transparency in reporting multiple transactions and providing weighted average prices.
• Commitment to provide full information on individual transaction prices upon request.

Negatives

• The filing only reports on stock acquisitions and does not provide broader financial performance data.
• The nature of the transactions (purchases) does not inherently indicate positive or negative company performance, only investment activity.

Risks

• The filing does not explicitly mention any risks.
• Potential future price volatility of RPAY stock could impact the value of the acquired shares.

Future Outlook

The filing does not contain forward-looking statements or guidance.

Management Comments

• The reporting persons disclaim beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any.
• The reporting persons undertake to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within this range.

Industry Context

StockSavvy.ai notes that Form 4 filings are crucial for understanding insider activity. Significant purchases by 10% owners like Forager Fund can signal conviction in a company's future prospects within the financial technology or payment processing sector, where Repay Holdings Corp. operates.

Stakeholder Impact

• Shareholders may view the increased stake by a significant owner as a positive signal, potentially influencing investor sentiment.
• The transactions do not appear to directly impact employees, customers, suppliers, or creditors based on the information provided.

Next Steps

• Continued monitoring of Forager Fund's beneficial ownership and trading activity in RPAY.
• Further analysis of Repay Holdings Corp.'s financial performance and strategic initiatives.

Key Dates

Keywords

RPAY, Repay Holdings Corp, Forager Fund, Forager Capital Management, Form 4, SEC Filing, Stock Purchase, Beneficial Ownership, Class A Common Stock, Insider Trading