i3 Verticals, Inc. (NASDAQ:IIIV) Short Interest Update

i3 Verticals, Inc. (NASDAQ:IIIV) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 911,300 shares, a growth of 20.1% from the January 15th total of 758,500 shares. Based on an average daily trading volume, of 267,000 shares, the days-to-cover ratio is presently 3.4 days. Currently, 4.2% of the company’s stock are short sold.

Insider Activity at i3 Verticals

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. 59.07% of the stock is currently owned by corporate insiders.

Institutional Trading of i3 Verticals

Several hedge funds and other institutional investors have recently made changes to their positions in IIIV. Sanctuary Advisors LLC acquired a new stake in i3 Verticals in the second quarter valued at about $292,000. Argent Capital Management LLC boosted its stake in shares of i3 Verticals by 15.0% in the third quarter. Argent Capital Management LLC now owns 16,180 shares of the company’s stock valued at $345,000 after buying an additional 2,114 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in i3 Verticals during the third quarter worth $11,373,000. Victory Capital Management Inc. raised its position in i3 Verticals by 6.1% in the third quarter. Victory Capital Management Inc. now owns 48,500 shares of the company’s stock worth $1,034,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in i3 Verticals by 11.1% in the third quarter. Royce & Associates LP now owns 488,840 shares of the company’s stock valued at $10,417,000 after acquiring an additional 48,840 shares during the period. Hedge funds and other institutional investors own 84.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IIIV. Morgan Stanley boosted their target price on i3 Verticals from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. Stephens reissued an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a research report on Tuesday, November 19th. BMO Capital Markets raised their price objective on i3 Verticals from $22.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, February 10th. Finally, DA Davidson lifted their target price on i3 Verticals from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Two investment 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.86.

i3 Verticals Stock Up 1.0 %

IIIV opened at $29.07 on Friday. The business has a 50 day moving average price of $24.47 and a two-hundred day moving average price of $23.43. i3 Verticals has a 52 week low of $18.75 and a 52 week high of $29.80. The company has a market cap of $975.01 million, a PE ratio of 6.47 and a beta of 1.51.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.59% and a net margin of 41.85%. As a group, sell-side analysts expect that i3 Verticals will post 0.9 EPS 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.