EverSource Wealth Advisors LLC Sells 25,000 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

EverSource Wealth Advisors LLC reduced its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 11.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,676 shares of the company’s stock after selling 25,000 shares during the period. EverSource Wealth Advisors LLC’s holdings in i3 Verticals were worth $4,747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IIIV. Hood River Capital Management LLC boosted its holdings in shares of i3 Verticals by 43.1% during the 1st quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock worth $25,635,000 after buying an additional 337,576 shares during the period. Confluence Investment Management LLC increased its stake in shares of i3 Verticals by 102.7% in the second quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock worth $6,768,000 after purchasing an additional 155,338 shares during the period. CIBC Private Wealth Group LLC boosted its stake in i3 Verticals by 147.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock valued at $5,196,000 after purchasing an additional 146,222 shares during the period. Assenagon Asset Management S.A. boosted its stake in i3 Verticals by 33.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 429,065 shares of the company’s stock valued at $9,474,000 after purchasing an additional 107,054 shares during the period. Finally, Heartland Advisors Inc. grew its holdings in i3 Verticals by 10.9% in the 1st quarter. Heartland Advisors Inc. now owns 599,800 shares of the company’s stock valued at $13,729,000 after buying an additional 59,050 shares during the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Trading Down 3.0 %

Shares of i3 Verticals stock opened at $21.99 on Friday. i3 Verticals, Inc. has a 12-month low of $17.54 and a 12-month high of $25.51. The stock has a market capitalization of $736.05 million, a P/E ratio of 2,199.00 and a beta of 1.55. The company has a 50-day simple moving average of $22.62 and a 200 day simple moving average of $21.83. 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 (NASDAQ:IIIV) last posted its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). The firm had revenue of $56.04 million during the quarter, compared to the consensus estimate of $96.43 million. i3 Verticals had a negative net margin of 0.01% and a positive return on equity of 5.99%. Research analysts expect that i3 Verticals, Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IIIV shares. Benchmark reissued a “buy” rating and issued a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, September 3rd. Stephens reiterated an “overweight” rating and issued a $29.00 price objective on shares of i3 Verticals in a research report on Friday, August 16th. KeyCorp lowered their price objective on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Finally, Raymond James reduced their target price on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued 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 target price of $26.83.

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.