i3 Verticals, Inc. (NASDAQ:IIIV) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 23.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,625 shares of the company’s stock after selling 7,822 shares during the quarter. Jane Street Group LLC’s holdings in i3 Verticals were worth $546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of IIIV. Royce & Associates LP lifted its stake in shares of i3 Verticals by 11.1% in the third quarter. Royce & Associates LP now owns 488,840 shares of the company’s stock worth $10,417,000 after acquiring an additional 48,840 shares in the last quarter. Long Path Partners LP acquired a new position in shares of i3 Verticals in the second quarter worth about $12,756,000. TimesSquare Capital Management LLC acquired a new position in shares of i3 Verticals in the third quarter worth about $11,373,000. Mason Capital Management LLC acquired a new position in shares of i3 Verticals in the second quarter worth about $7,443,000. Finally, State Street Corp lifted its stake in shares of i3 Verticals by 0.5% in the third quarter. State Street Corp now owns 495,943 shares of the company’s stock worth $10,569,000 after acquiring an additional 2,664 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IIIV shares. 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 cut their price target on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, October 3rd. Stephens reiterated an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. Finally, Benchmark reiterated a “buy” rating and issued a $33.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, i3 Verticals currently has an average rating of “Moderate Buy” and an average target price of $27.14.

Insider Buying and Selling at i3 Verticals

In other news, President Frederick Stanford sold 17,577 shares of the company’s stock in a transaction that occurred on 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 transaction, the president now directly owns 100,000 shares of the company’s stock, valued at approximately $2,528,000. This represents a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 34.00% of the stock is currently owned by insiders.

i3 Verticals Stock Up 1.0 %

Shares of NASDAQ IIIV opened at $23.52 on Monday. The stock’s 50 day moving average price is $23.82 and its two-hundred day moving average price is $22.83. i3 Verticals, Inc. has a 52-week low of $17.54 and a 52-week high of $26.66. The stock has a market capitalization of $788.86 million, a P/E ratio of 5.29 and a beta of 1.49.

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.