i3 Verticals, Inc. (NASDAQ:IIIV) Sees Significant Decrease in Short Interest

i3 Verticals, Inc. (NASDAQ:IIIV) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 846,600 shares, a decline of 12.7% from the March 15th total of 969,600 shares. Based on an average daily trading volume, of 245,800 shares, the short-interest ratio is presently 3.4 days.

Institutional Investors Weigh In On i3 Verticals

Several large investors have recently modified their holdings of IIIV. Ferguson Wellman Capital Management Inc. bought a new stake in shares of i3 Verticals in the 1st quarter valued at approximately $223,000. Confluence Investment Management LLC bought a new stake in i3 Verticals during the 1st quarter worth approximately $3,461,000. Vanguard Group Inc. grew its position in i3 Verticals by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 1,295,340 shares of the company’s stock worth $27,422,000 after acquiring an additional 32,761 shares during the last quarter. GSA Capital Partners LLP grew its position in i3 Verticals by 118.8% during the 4th quarter. GSA Capital Partners LLP now owns 98,567 shares of the company’s stock worth $2,087,000 after acquiring an additional 53,520 shares during the last quarter. Finally, Barclays PLC boosted its position in i3 Verticals by 343.9% in the 4th quarter. Barclays PLC now owns 36,377 shares of the company’s stock valued at $770,000 after buying an additional 28,183 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors.

i3 Verticals Trading Down 0.7 %

i3 Verticals stock opened at $22.81 on Tuesday. The business has a 50 day moving average price of $21.74 and a two-hundred day moving average price of $20.63. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.85. i3 Verticals has a 12 month low of $17.54 and a 12 month high of $25.70.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The firm had revenue of $91.99 million during the quarter, compared to analysts’ expectations of $92.92 million. i3 Verticals had a return on equity of 9.28% and a net margin of 0.14%. Equities research analysts predict that i3 Verticals will post 0.95 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on IIIV shares. Benchmark reaffirmed a “buy” rating and issued a $28.00 price target on shares of i3 Verticals in a research report on Monday, April 1st. Morgan Stanley cut their price objective on i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. BMO Capital Markets cut their price objective on i3 Verticals from $24.00 to $23.00 and set a “market perform” rating for the company in a research report on Monday, February 12th. Finally, TheStreet raised i3 Verticals from a “d+” rating to a “c-” rating in a research report on Monday, March 18th. Two 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.00.

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.