Tower Research Capital LLC TRC lifted its stake in shares of i3 Verticals Inc (NASDAQ:IIIV) by 135.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,967 shares of the company’s stock after buying an additional 1,130 shares during the period. Tower Research Capital LLC TRC’s holdings in i3 Verticals were worth $40,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in i3 Verticals in the first quarter valued at about $29,000. Teton Advisors Inc. lifted its position in i3 Verticals by 2.1% during the second quarter. Teton Advisors Inc. now owns 96,300 shares of the company’s stock worth $2,836,000 after purchasing an additional 2,000 shares during the period. California Public Employees Retirement System grew its stake in i3 Verticals by 22.7% during the third quarter. California Public Employees Retirement System now owns 13,500 shares of the company’s stock worth $272,000 after buying an additional 2,500 shares in the last quarter. Rhumbline Advisers grew its stake in i3 Verticals by 30.3% during the third quarter. Rhumbline Advisers now owns 15,291 shares of the company’s stock worth $308,000 after buying an additional 3,560 shares in the last quarter. Finally, Monarch Partners Asset Management LLC increased its holdings in i3 Verticals by 17.2% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 29,290 shares of the company’s stock valued at $589,000 after buying an additional 4,290 shares during the period. 48.98% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on the stock. KeyCorp boosted their target price on shares of i3 Verticals from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Zacks Investment Research lowered shares of i3 Verticals from a “buy” rating to a “hold” rating in a research report on Friday, November 29th. BTIG Research set a $31.00 price objective on shares of i3 Verticals and gave the company a “buy” rating in a research note on Thursday, September 5th. ValuEngine downgraded shares of i3 Verticals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Bank of America upgraded i3 Verticals from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $28.00.
i3 Verticals (NASDAQ:IIIV) last issued its earnings results on Thursday, November 21st. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The firm had revenue of $40.57 million during the quarter, compared to the consensus estimate of $38.20 million. i3 Verticals had a positive return on equity of 14.31% and a negative net margin of 0.81%. The business’s quarterly revenue was up 44.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 earnings per share. On average, analysts anticipate that i3 Verticals Inc will post 0.81 EPS for the current fiscal year.
About i3 Verticals
i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support.
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