Shellback Capital LP Has $4.01 Million Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Shellback Capital LP increased its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 39.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,652 shares of the company’s stock after buying an additional 51,565 shares during the quarter. Shellback Capital LP’s holdings in i3 Verticals were worth $4,011,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IIIV. Mason Capital Management LLC bought a new stake in shares of i3 Verticals during the 2nd quarter valued at $7,443,000. Long Path Partners LP acquired a new position in i3 Verticals in the second quarter valued at about $12,756,000. Hood River Capital Management LLC lifted its position in i3 Verticals by 6.3% during the second quarter. Hood River Capital Management LLC now owns 1,190,184 shares of the company’s stock worth $26,279,000 after purchasing an additional 70,253 shares during the period. Continental Advisors LLC bought a new stake in i3 Verticals during the second quarter worth about $635,000. Finally, Dimensional Fund Advisors LP grew its stake in i3 Verticals by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 484,494 shares of the company’s stock worth $10,698,000 after buying an additional 13,880 shares in the last quarter. Institutional investors own 84.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IIIV shares. Benchmark reaffirmed a “buy” rating and set a $33.00 price target on shares of i3 Verticals in a report on Tuesday, September 3rd. Raymond James lowered their price objective on shares of 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. KeyCorp reduced their target price on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Finally, Stephens reissued an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.83.

i3 Verticals Price Performance

IIIV stock opened at $21.15 on Friday. i3 Verticals, Inc. has a 1 year low of $17.54 and a 1 year high of $25.51. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market cap of $714.66 million, a price-to-earnings ratio of 2,117.12 and a beta of 1.54. The company has a 50 day simple moving average of $22.44 and a 200 day simple moving average of $21.81.

i3 Verticals (NASDAQ:IIIV) last posted its 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 firm had revenue of $56.04 million during the quarter, compared to the consensus estimate of $96.43 million. Research analysts anticipate that i3 Verticals, Inc. will post 0.19 EPS for the current fiscal year.

i3 Verticals 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.