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

i3 Verticals, Inc. (NASDAQ:IIIV) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totalling 829,900 shares, a decline of 6.9% from the June 30th total of 891,200 shares. Based on an average daily volume of 233,800 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Trading of i3 Verticals

A number of hedge funds have recently made changes to their positions in IIIV. Ranger Investment Management L.P. grew its holdings in i3 Verticals by 2.6% in the fourth quarter. Ranger Investment Management L.P. now owns 1,047,985 shares of the company’s stock worth $22,186,000 after purchasing an additional 26,670 shares during the period. Palogic Value Management L.P. grew its stake in i3 Verticals by 65.5% during the fourth quarter. Palogic Value Management L.P. now owns 120,000 shares of the company’s stock valued at $2,540,000 after acquiring an additional 47,500 shares in the last quarter. ABS Direct Equity Fund LLC bought a new stake in i3 Verticals during the fourth quarter valued at $741,000. Confluence Investment Management LLC bought a new position in shares of i3 Verticals in the first quarter worth approximately $3,461,000. Finally, CIBC Private Wealth Group LLC grew its position in i3 Verticals by 147.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock worth $5,196,000 after acquiring an additional 146,222 shares in the last quarter. 84.22% of the stock is owned by institutional investors and hedge funds.

i3 Verticals Price Performance

Shares of IIIV traded down $0.40 during mid-day trading on Wednesday, hitting $24.51. 400,891 shares of the company traded hands, compared to its average volume of 234,133. The stock has a market capitalization of $820.35 million, a price-to-earnings ratio of 2,493.49 and a beta of 1.58. i3 Verticals has a one year low of $17.54 and a one year high of $25.51. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average of $21.21 and a 200 day moving average of $21.30.

i3 Verticals (NASDAQ:IIIV) last released its earnings results on Friday, May 10th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). i3 Verticals had a return on equity of 8.91% and a net margin of 0.63%. The firm had revenue of $94.54 million for the quarter, compared to the consensus estimate of $96.27 million. As a group, equities analysts expect that i3 Verticals will post 0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on IIIV. BMO Capital Markets cut their target price on shares of i3 Verticals from $25.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, May 13th. Stephens boosted their price target on i3 Verticals from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. KeyCorp raised their target price on i3 Verticals from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, Benchmark upped their target price on shares of i3 Verticals from $28.00 to $33.00 and gave the company a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, i3 Verticals has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

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.