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

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on IIIV shares. Morgan Stanley decreased their price objective on shares of i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. TheStreet upgraded shares of i3 Verticals from a “d+” rating to a “c-” rating in a research note on Monday, March 18th. BMO Capital Markets decreased their price objective on shares of i3 Verticals from $24.00 to $23.00 and set a “market perform” rating for the company in a research note on Monday, February 12th. Finally, Benchmark restated a “buy” rating and issued a $28.00 price objective on shares of i3 Verticals in a research note on Monday, April 1st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Institutional Trading of i3 Verticals

Several institutional investors have recently made changes to their positions in IIIV. Ameriprise Financial Inc. grew its stake in shares of i3 Verticals by 166.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 621,940 shares of the company’s stock valued at $13,148,000 after buying an additional 388,721 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of i3 Verticals during the 3rd quarter valued at $6,807,000. Wellington Management Group LLP grew its stake in shares of i3 Verticals by 27.6% during the 1st quarter. Wellington Management Group LLP now owns 1,349,231 shares of the company’s stock valued at $37,591,000 after buying an additional 291,836 shares during the period. Voss Capital LLC grew its stake in shares of i3 Verticals by 36.9% during the 3rd quarter. Voss Capital LLC now owns 937,083 shares of the company’s stock valued at $19,810,000 after buying an additional 252,439 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of i3 Verticals by 23.3% during the 1st quarter. Vanguard Group Inc. now owns 1,004,719 shares of the company’s stock valued at $27,992,000 after buying an additional 189,889 shares during the period. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Price Performance

IIIV stock opened at $22.81 on Tuesday. The firm has a 50 day moving average of $21.74 and a 200-day moving average of $20.63. i3 Verticals has a 12-month low of $17.54 and a 12-month high of $25.70. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.85.

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

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.