i3 Verticals (NASDAQ:IIIV) Trading Down 6.2%

i3 Verticals, Inc. (NASDAQ:IIIV)’s stock price fell 6.2% on Wednesday . The company traded as low as $22.00 and last traded at $22.01. 9,845 shares were traded during mid-day trading, a decline of 93% from the average session volume of 137,873 shares. The stock had previously closed at $23.47.

A number of research firms have recently weighed in on IIIV. Zacks Investment Research downgraded shares of i3 Verticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 20th. Raymond James reduced their target price on shares of i3 Verticals from $42.00 to $40.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 5th. TheStreet downgraded shares of i3 Verticals from a “c-” rating to a “d+” rating in a research report on Monday, October 4th. Finally, Morgan Stanley began coverage on shares of i3 Verticals in a research report on Monday, July 26th. They issued an “equal weight” rating and a $34.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $35.89.

The company’s 50-day moving average is $26.44 and its 200 day moving average is $29.77. The company has a market capitalization of $704.39 million, a PE ratio of -65.53, a P/E/G ratio of 1.70 and a beta of 1.65. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.61 and a current ratio of 0.61.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings data on Monday, August 9th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.07. i3 Verticals had a negative net margin of 3.18% and a positive return on equity of 6.64%. The company had revenue of $60.71 million for the quarter, compared to the consensus estimate of $56.21 million. On average, analysts forecast that i3 Verticals, Inc. will post 0.61 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of i3 Verticals by 1.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,978,769 shares of the company’s stock valued at $59,799,000 after acquiring an additional 28,679 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of i3 Verticals by 1.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,761,799 shares of the company’s stock valued at $53,242,000 after acquiring an additional 18,454 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of i3 Verticals by 1.6% during the 2nd quarter. BlackRock Inc. now owns 1,374,045 shares of the company’s stock valued at $41,525,000 after acquiring an additional 22,251 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of i3 Verticals by 1.1% during the 2nd quarter. American Century Companies Inc. now owns 1,033,434 shares of the company’s stock valued at $31,230,000 after acquiring an additional 11,246 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of i3 Verticals by 12.0% during the 2nd quarter. Vanguard Group Inc. now owns 912,750 shares of the company’s stock valued at $27,584,000 after acquiring an additional 97,673 shares during the last quarter. 61.86% of the stock is currently owned by hedge funds and other institutional investors.

i3 Verticals Company Profile (NASDAQ:IIIV)

i3 Verticals, Inc is a holding company, which engages in the provision of integrated payment and software solutions to small-and medium-sized businesses and organizations in strategic vertical markets. It operates through the following segments: Merchant Services, Proprietary Software and Payments, and Others.

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