Why One Fund Is Doubling Down on Shift4’s 61% Revenue Surge With a $392 Million Bet

Core Insights - Darlington Partners Capital Management increased its stake in Shift4 Payments by 105,320 shares in Q3, bringing total holdings to nearly 5.1 million shares valued at $392.6 million, representing 13.3% of the fund's $3 billion in U.S. equity assets [2][3][7] Company Overview - Shift4 Payments is a leading provider of integrated payment and commerce technology, employing over 4,000 staff and serving a diverse merchant base [6] - The company focuses on omni-channel capabilities and value-added services, positioning itself competitively in the payments landscape, targeting sectors such as hospitality, retail, and e-commerce [6] Financial Performance - As of the latest market close, Shift4 Payments' stock price was $67.65, down 30% over the past year, while the S&P 500 increased nearly 14% in the same period [4] - Shift4 reported $589.2 million in gross revenue less network fees for the latest quarter, a 61% increase year-over-year, with adjusted EBITDA of $292.1 million at a 50% margin [10] Strategic Moves - The company authorized a $1 billion share repurchase program, the largest in its history, indicating confidence in its growth trajectory [10] - Darlington's investment strategy reflects a long-term commitment to Shift4, viewing it as a core business for future growth despite recent stock performance [9][11]