SCHEDULE: Private Management Group Discloses 5.09% Stake in Repay Holdings

Private Management Group, Inc. has reported a beneficial ownership of 5.09% of Repay Holdings Corp's common stock as of September 30, 2025.

Summary

• Private Management Group, Inc. (PMG) has filed a Schedule 13G, indicating beneficial ownership of Repay Holdings Corp (Repay) common stock.
• PMG beneficially owns 4,149,093 shares of Repay's common stock.
• This represents 5.09% of Repay's outstanding common stock, calculated based on 81,570,610 shares outstanding as reported in Repay's balance sheet for the period ending September 30, 2025.
• PMG has sole voting power and sole dispositive power over all 4,149,093 shares.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Repay.
• PMG acts as an investment adviser for various separately managed accounts that have the right to receive dividends and proceeds from the sale of these shares.

Sentiment

Score: 6

Explanation: The disclosure of a significant 5.09% stake by an investment adviser like Private Management Group Inc. is generally viewed as a neutral to slightly positive signal, as it indicates an institutional investor sees value in the company. The certification of a passive investment intent (not for control) also reduces potential uncertainty.

Positives

• An institutional investment adviser, Private Management Group, Inc., has taken a significant stake (5.09%) in Repay Holdings Corp, potentially signaling confidence in the company's future prospects.
• The acquisition of shares is stated to be in the ordinary course of business, not for control purposes, suggesting a passive investment strategy.

Negatives

• The filing itself does not contain any negative information regarding Repay Holdings Corp's performance or outlook.

Risks

• The filing does not detail specific risks related to Repay Holdings Corp. It is a disclosure of beneficial ownership.

Future Outlook

The Schedule 13G filing does not provide any forward-looking statements or guidance regarding Repay Holdings Corp's future performance or Private Management Group Inc.'s investment strategy beyond the certification of ordinary course business.

Management Comments

• The filing includes a certification from Private Management Group Inc. that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of Repay Holdings Corp.

Industry Context

This filing indicates that an institutional investment adviser, Private Management Group, has taken a significant passive stake in Repay Holdings Corp, a company operating in the financial technology or payments processing sector. Such disclosures are common for institutional investors crossing the 5% beneficial ownership threshold, signaling their investment positions to the market.

Comparison to Industry Standards

• Private Management Group's 5.09% stake in Repay Holdings Corp crosses the 5% beneficial ownership threshold, which mandates the filing of a Schedule 13G with the SEC for passive investors.
• This type of filing is standard practice for investment advisers (Type IA) who hold significant, non-controlling positions in public companies.
• The certification that the shares are held in the ordinary course of business and not for control purposes aligns with the typical intent of a Schedule 13G filer, distinguishing it from a Schedule 13D filing which implies an intent to influence or control.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor taking a stake could be perceived positively, potentially increasing investor confidence and liquidity.
• Management: Management gains a significant institutional shareholder, which can provide stability but also implies increased scrutiny.

Next Steps

• The filing does not specify any future actions, events, or milestones for Repay Holdings Corp or Private Management Group Inc. beyond the disclosure of the current ownership.

Key Dates

Recommendation

The filing indicates a significant institutional investor has taken a 5.09% stake in Repay Holdings Corp, signaling confidence. However, as a Schedule 13G, it's a passive investment disclosure and does not provide new operational or financial performance data. Therefore, while the institutional interest is a positive indicator, it doesn't fundamentally alter the company's underlying business prospects or valuation in a way that would warrant a 'buy' or 'sell' recommendation based solely on this filing. A 'hold' recommendation is appropriate, acknowledging the institutional vote of confidence while awaiting further operational updates.

Keywords

Repay Holdings Corp, RPAY, Private Management Group, Schedule 13G, beneficial ownership, investment adviser, common stock, institutional investment, equity stake