i3 Verticals, Inc. (NASDAQ:IIIV) Short Interest Update

i3 Verticals, Inc. (NASDAQ:IIIV) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 818,100 shares, a growth of 11.1% from the August 15th total of 736,500 shares. Based on an average trading volume of 217,100 shares, the short-interest ratio is currently 3.8 days.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IIIV shares. Raymond James decreased their target price on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, August 12th. KeyCorp decreased their price target on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Benchmark reissued a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a report on Tuesday, September 3rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.83.

i3 Verticals Trading Down 0.2 %

IIIV traded down $0.05 on Wednesday, hitting $22.32. The company had a trading volume of 17,023 shares, compared to its average volume of 220,897. The business’s fifty day simple moving average is $22.62 and its 200 day simple moving average is $21.81. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 1.01. i3 Verticals has a 12-month low of $17.54 and a 12-month high of $25.51. The company has a market cap of $747.10 million, a PE ratio of 2,222.00 and a beta of 1.55.

i3 Verticals (NASDAQ:IIIV) last released its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.31). i3 Verticals had a positive return on equity of 5.99% and a negative net margin of 0.01%. The firm had revenue of $56.04 million during the quarter, compared to the consensus estimate of $96.43 million. Equities research analysts expect that i3 Verticals will post 0.19 EPS for the current year.

Institutional Trading of i3 Verticals

Several institutional investors and hedge funds have recently made changes to their positions in IIIV. YHB Investment Advisors Inc. purchased a new stake in i3 Verticals in the 1st quarter valued at about $25,000. Cape Investment Advisory Inc. purchased a new stake in i3 Verticals in the fourth quarter worth about $30,000. Comerica Bank lifted its stake in i3 Verticals by 46.0% in the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock worth $49,000 after acquiring an additional 672 shares during the period. SG Americas Securities LLC bought a new position in i3 Verticals during the 2nd quarter worth about $116,000. Finally, Argent Capital Management LLC purchased a new position in i3 Verticals during the 1st quarter valued at about $200,000. 84.22% of the stock is currently owned by institutional investors.

i3 Verticals Company Profile

i3 Verticals, Inc provides integrated payment and software solutions primarily to the public sector and healthcare markets in the United States. It operates in two segments, Software and Services, and Merchant Services. The company offers payment processing services that enables upper and lower court case management, collections, finance and accounting, motor vehicle and carrier registration, e-filing and taxation, license plate inventory, property tax management, utility billing, professional licensing, document workflow, and law enforcement software; assists public schools in completing payment processing functions, including accepting payments for online or at school lunches, and school activities.