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

i3 Verticals, Inc. (NASDAQ:IIIV) was the recipient of a significant decrease in short interest in 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.

Institutional Investors Weigh In On i3 Verticals

A number of hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in i3 Verticals by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,120 shares of the company’s stock valued at $208,000 after purchasing an additional 426 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of i3 Verticals by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 124,742 shares of the company’s stock worth $2,641,000 after acquiring an additional 501 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of i3 Verticals by 4.2% in the 4th quarter. JPMorgan Chase & Co. now owns 13,010 shares of the company’s stock worth $317,000 after acquiring an additional 530 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of i3 Verticals by 5.9% in the 1st quarter. Squarepoint Ops LLC now owns 12,507 shares of the company’s stock worth $307,000 after acquiring an additional 702 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of i3 Verticals by 63.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock worth $38,000 after acquiring an additional 703 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Price Performance

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

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

Wall Street Analysts Forecast Growth

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

About i3 Verticals

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.