Palogic Value Management L.P. Trims Stake in i3 Verticals, Inc. $IIIV

Palogic Value Management L.P. reduced its position in i3 Verticals, Inc. (NASDAQ:IIIV) by 7.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 120,000 shares of the company’s stock after selling 10,000 shares during the period. i3 Verticals accounts for about 1.3% of Palogic Value Management L.P.’s holdings, making the stock its 22nd biggest holding. Palogic Value Management L.P. owned 0.36% of i3 Verticals worth $3,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of i3 Verticals by 2,744.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company’s stock valued at $51,000 after purchasing an additional 1,976 shares during the last quarter. Harbor Asset Planning Inc. purchased a new stake in shares of i3 Verticals in the second quarter valued at about $110,000. Meeder Asset Management Inc. purchased a new stake in shares of i3 Verticals in the first quarter valued at about $151,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in i3 Verticals by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,926 shares of the company’s stock valued at $196,000 after acquiring an additional 796 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in i3 Verticals during the 1st quarter valued at approximately $207,000. 84.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other i3 Verticals news, General Counsel Paul Maple sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $31.04, for a total transaction of $77,600.00. Following the transaction, the general counsel directly owned 33,269 shares in the company, valued at approximately $1,032,669.76. This represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Paul Christians sold 1,890 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $31.40, for a total transaction of $59,346.00. Following the transaction, the executive owned 43,110 shares in the company, valued at $1,353,654. The trade was a 4.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 11,272 shares of company stock worth $355,862. 59.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of i3 Verticals in a research note on Wednesday, October 8th. DA Davidson upped their price objective on i3 Verticals from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Zacks Research raised i3 Verticals from a “strong sell” rating to a “hold” rating in a research note on Thursday. Morgan Stanley upped their price objective on i3 Verticals from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $39.00 price objective (up from $33.00) on shares of i3 Verticals in a research note on Monday, August 11th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

i3 Verticals Trading Down 0.5%

Shares of IIIV stock opened at $30.75 on Friday. The company has a market cap of $992.00 million, a price-to-earnings ratio of 5.89 and a beta of 1.28. The stock has a 50 day simple moving average of $31.53 and a 200-day simple moving average of $28.60. i3 Verticals, Inc. has a 12-month low of $22.20 and a 12-month high of $33.97.

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.