i3 Verticals, Inc. (NASDAQ:IIIV) Short Interest Down 8.3% in November

i3 Verticals, Inc. (NASDAQ:IIIV) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 841,200 shares, a decline of 8.3% from the November 15th total of 917,700 shares. Based on an average trading volume of 218,500 shares, the short-interest ratio is currently 3.8 days.

i3 Verticals Trading Up 0.0 %

Shares of IIIV stock opened at $22.47 on Wednesday. i3 Verticals has a twelve month low of $17.54 and a twelve month high of $26.66. The business’s 50 day moving average is $23.69 and its two-hundred day moving average is $22.48. The company has a market capitalization of $753.64 million, a P/E ratio of 5.05 and a beta of 1.49.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. DA Davidson reiterated a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a research note on Monday, September 30th. BMO Capital Markets dropped their price objective on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, October 3rd. Benchmark reissued a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. Finally, Stephens reissued an “overweight” rating and issued a $29.00 price objective on shares of i3 Verticals in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.14.

Insiders Place Their Bets

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of i3 Verticals stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total transaction of $444,346.56. Following the completion of the sale, the president now directly owns 100,000 shares of the company’s stock, valued at $2,528,000. The trade was a 14.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 34.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On i3 Verticals

Several institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its position in i3 Verticals by 112.3% in the third quarter. Barclays PLC now owns 41,036 shares of the company’s stock valued at $873,000 after purchasing an additional 21,709 shares during the period. Bares Capital Management Inc. acquired a new stake in i3 Verticals in the third quarter valued at $334,000. ABS Direct Equity Fund LLC grew its stake in shares of i3 Verticals by 40.0% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 35,000 shares of the company’s stock worth $746,000 after purchasing an additional 10,000 shares during the period. State Street Corp increased its holdings in shares of i3 Verticals by 0.5% in the 3rd quarter. State Street Corp now owns 495,943 shares of the company’s stock valued at $10,569,000 after purchasing an additional 2,664 shares in the last quarter. Finally, Portolan Capital Management LLC boosted its holdings in i3 Verticals by 3.8% during the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock worth $13,917,000 after buying an additional 23,921 shares in the last quarter. 84.22% of the stock is owned by institutional investors and hedge funds.

About i3 Verticals

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.