Sanctuary Advisors LLC Takes Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Sanctuary Advisors LLC acquired a new stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 12,623 shares of the company’s stock, valued at approximately $292,000.

Several other large investors also recently bought and sold shares of IIIV. Argent Capital Management LLC acquired a new stake in shares of i3 Verticals in the first quarter valued at approximately $200,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of i3 Verticals by 10.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,298 shares of the company’s stock worth $992,000 after acquiring an additional 4,075 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of i3 Verticals by 11.7% during the 1st quarter. BNP Paribas Financial Markets now owns 19,920 shares of the company’s stock worth $456,000 after acquiring an additional 2,085 shares during the period. Geneva Capital Management LLC grew its holdings in shares of i3 Verticals by 1.7% in the first quarter. Geneva Capital Management LLC now owns 1,919,097 shares of the company’s stock valued at $43,928,000 after purchasing an additional 31,271 shares during the period. Finally, Heartland Advisors Inc. increased its position in i3 Verticals by 10.9% during the first quarter. Heartland Advisors Inc. now owns 599,800 shares of the company’s stock worth $13,729,000 after purchasing an additional 59,050 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IIIV. KeyCorp decreased their target price 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. DA Davidson reiterated a “buy” rating and issued a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Raymond James dropped 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 research report on Monday, August 12th. BMO Capital Markets dropped their price objective on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, October 3rd. Finally, Stephens reissued an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, i3 Verticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.14.

i3 Verticals Stock Up 0.1 %

Shares of NASDAQ IIIV opened at $22.88 on Friday. The business has a 50-day moving average of $21.88 and a two-hundred day moving average of $21.80. The company has a market capitalization of $765.84 million, a price-to-earnings ratio of 2,288.00 and a beta of 1.54. 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.

i3 Verticals (NASDAQ:IIIV) last announced 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). The company had revenue of $56.04 million for the quarter, compared to analyst estimates of $96.43 million. i3 Verticals had a positive return on equity of 5.99% and a negative net margin of 0.01%. On average, analysts forecast that i3 Verticals, Inc. will post 0.19 earnings per share for the current fiscal year.

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.