i3 Verticals (NASDAQ:IIIV) Rating Lowered to Neutral at BTIG Research

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BTIG Research lowered shares of i3 Verticals (NASDAQ:IIIV) from a buy rating to a neutral rating in a report released on Tuesday morning, Benzinga reports. The brokerage currently has $36.00 target price on the stock.

Several other research firms also recently issued reports on IIIV. TheStreet raised i3 Verticals from a d+ rating to a c- rating in a report on Friday, February 7th. ValuEngine downgraded i3 Verticals from a buy rating to a hold rating in a research note on Wednesday, November 6th. Finally, Zacks Investment Research downgraded i3 Verticals from a buy rating to a hold rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $31.60.

NASDAQ:IIIV opened at $31.87 on Tuesday. The stock’s fifty day moving average price is $31.58 and its two-hundred day moving average price is $25.32. i3 Verticals has a 52-week low of $18.65 and a 52-week high of $37.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.58 and a current ratio of 0.55. The company has a market cap of $885.04 million, a price-to-earnings ratio of 64.50, a P/E/G ratio of 1.75 and a beta of 0.53.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. i3 Verticals had a positive return on equity of 13.75% and a negative net margin of 1.01%. The firm had revenue of $41.10 million for the quarter, compared to the consensus estimate of $39.05 million. The company’s quarterly revenue was down 51.6% on a year-over-year basis. On average, equities analysts predict that i3 Verticals will post 0.75 EPS for the current fiscal year.

In other news, COO David Scott Meriwether sold 3,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $27.90, for a total value of $83,700.00. Following the transaction, the chief operating officer now owns 56 shares of the company’s stock, valued at approximately $1,562.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 40.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in shares of i3 Verticals in the 4th quarter valued at $28,000. Marshall Wace LLP bought a new stake in shares of i3 Verticals in the 1st quarter valued at $29,000. Tower Research Capital LLC TRC increased its position in shares of i3 Verticals by 135.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,967 shares of the company’s stock valued at $40,000 after buying an additional 1,130 shares in the last quarter. Citigroup Inc. increased its position in shares of i3 Verticals by 139.0% in the 4th quarter. Citigroup Inc. now owns 2,957 shares of the company’s stock valued at $84,000 after buying an additional 1,720 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY bought a new stake in shares of i3 Verticals in the 3rd quarter valued at $103,000. 48.89% of the stock is currently owned by institutional investors.

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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