This Payments Stock Is Down 37% This Past Year as One Fund Trimmed a $40 Million Stake

Company Overview - Shift4 Payments reported a total revenue of $3.9 billion and a net income of $194.8 million for the trailing twelve months (TTM) [5] - The company's stock price as of the last market close was $64.07, reflecting a 37% decline over the past year [5] Recent Developments - Portolan Capital Management reduced its stake in Shift4 Payments by selling 246,414 shares in the third quarter, resulting in a decrease in position value by $28.52 million [2][3][7] - Following the sale, Portolan held 188,761 shares valued at $14.61 million, which now represents 0.79% of its reportable U.S. equity assets under management (AUM) [4][3] Financial Performance - Shift4 Payments reported third-quarter gross revenue of $1.18 billion, marking a 29% year-over-year increase, with gross revenue less network fees rising by 61% [12] - The adjusted EBITDA for the quarter reached $292 million, indicating a 50% margin, while adjusted free cash flow increased by 27% year-over-year to $141 million [12] Strategic Actions - The company has authorized a new $1 billion share repurchase program, the largest in its history, reflecting management's confidence in long-term cash generation [12] - Despite strong operational performance, the stock's underperformance suggests that growth alone may not be sufficient to maintain investor confidence [13]