i3 Verticals (NASDAQ:IIIV) Trading Down 5.2%

Shares of i3 Verticals, Inc. (NASDAQ:IIIV) were down 5.2% during mid-day trading on Wednesday . The company traded as low as $20.42 and last traded at $20.44. Approximately 118,926 shares changed hands during trading, a decline of 46% from the average daily volume of 221,688 shares. The stock had previously closed at $21.55.

Analyst Upgrades and Downgrades

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

i3 Verticals Stock Down 0.1 %

The firm has a market capitalization of $707.26 million, a PE ratio of 2,138.00 and a beta of 1.54. The firm’s 50-day moving average is $22.44 and its 200 day moving average is $21.81. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98.

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

Institutional Trading of i3 Verticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Long Path Partners LP acquired a new position in i3 Verticals in the 2nd quarter valued at $12,756,000. Hood River Capital Management LLC increased its stake in i3 Verticals by 43.1% in the first quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock valued at $25,635,000 after purchasing an additional 337,576 shares during the last quarter. Mason Capital Management LLC purchased a new position in i3 Verticals during the second quarter worth about $7,443,000. Confluence Investment Management LLC boosted its stake in i3 Verticals by 102.7% in the 2nd quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock worth $6,768,000 after buying an additional 155,338 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in i3 Verticals by 147.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock valued at $5,196,000 after buying an additional 146,222 shares during the period. 84.22% of the stock is currently owned by hedge funds and other 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.