ABS Direct Equity Fund LLC Makes New Investment in i3 Verticals, Inc. (NASDAQ:IIIV)

ABS Direct Equity Fund LLC bought a new stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) in the fourth quarter, Holdings Channel reports. The institutional investor bought 35,000 shares of the company’s stock, valued at approximately $741,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in i3 Verticals by 2.4% during the fourth quarter. Victory Capital Management Inc. now owns 43,000 shares of the company’s stock valued at $910,000 after purchasing an additional 1,025 shares in the last quarter. Semanteon Capital Management LP bought a new position in shares of i3 Verticals in the 4th quarter valued at about $366,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of i3 Verticals by 36.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,992 shares of the company’s stock valued at $106,000 after acquiring an additional 1,345 shares during the last quarter. Cullen Investment Group LTD. purchased a new position in i3 Verticals in the fourth quarter worth about $1,878,000. Finally, Shaker Investments LLC OH increased its stake in i3 Verticals by 130.5% during the fourth quarter. Shaker Investments LLC OH now owns 23,910 shares of the company’s stock worth $506,000 after acquiring an additional 13,535 shares during the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IIIV has been the subject of several analyst reports. KeyCorp raised their price objective on i3 Verticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Benchmark reaffirmed a “buy” rating and set a $28.00 price target on shares of i3 Verticals in a research note on Monday, April 1st. Morgan Stanley dropped their target price 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 reduced their price target 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, TheStreet upgraded i3 Verticals from a “d+” rating to a “c-” rating in a report on Monday, March 18th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.43.

i3 Verticals Trading Up 0.6 %

Shares of NASDAQ IIIV traded up $0.14 during trading hours on Friday, reaching $22.40. The stock had a trading volume of 125,013 shares, compared to its average volume of 170,700. i3 Verticals, Inc. has a 52-week low of $17.54 and a 52-week high of $25.70. The firm has a market cap of $747.49 million, a price-to-earnings ratio of -320.00 and a beta of 1.56. The business’s fifty day moving average price is $22.49 and its two-hundred day moving average price is $20.88. 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 posted its quarterly earnings results on Thursday, February 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping 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 business had revenue of $91.99 million for the quarter, compared to the consensus estimate of $92.92 million. Analysts expect that i3 Verticals, Inc. will post 0.95 EPS for the current fiscal year.

i3 Verticals 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.