Frederick Stanford Sells 17,577 Shares of i3 Verticals, Inc. (NASDAQ:IIIV) Stock

i3 Verticals, Inc. (NASDAQ:IIIV) President Frederick Stanford sold 17,577 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 SEC, which is accessible through this link.

i3 Verticals Stock Performance

NASDAQ:IIIV opened at $24.80 on Friday. The company has a market cap of $831.79 million, a PE ratio of 5.57 and a beta of 1.53. The stock has a 50-day simple moving average of $23.22 and a 200 day simple moving average of $22.10. i3 Verticals, Inc. has a 52-week low of $17.54 and a 52-week high of $26.66.

Hedge Funds Weigh In On i3 Verticals

Several hedge funds have recently made changes to their positions in IIIV. Hood River Capital Management LLC boosted its holdings 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 last quarter. Long Path Partners LP boosted its stake in shares of i3 Verticals by 61.5% during the 3rd quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after buying an additional 355,392 shares during the last quarter. Portolan Capital Management LLC grew its holdings in shares of i3 Verticals by 3.8% in the 3rd quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock valued at $13,917,000 after acquiring an additional 23,921 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of i3 Verticals in the 3rd quarter valued at about $11,373,000. Finally, State Street Corp increased its position 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 valued at $10,569,000 after acquiring an additional 2,664 shares during the last quarter. 84.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

IIIV has been the subject of several research analyst reports. Benchmark reissued a “buy” rating and issued a $33.00 price target on shares of i3 Verticals in a report on Tuesday, November 19th. KeyCorp lowered their price target on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, August 12th. BMO Capital Markets cut their price objective on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, October 3rd. DA Davidson reissued a “buy” rating and set a $32.00 target price on shares of i3 Verticals in a research note on Monday, September 30th. Finally, Stephens restated an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

About i3 Verticals

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.