Short Interest in i3 Verticals, Inc. (NASDAQ:IIIV) Grows By 16.7%

i3 Verticals, Inc. (NASDAQ:IIIV) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 920,300 shares, a growth of 16.7% from the May 31st total of 788,600 shares. Based on an average daily volume of 199,500 shares, the days-to-cover ratio is currently 4.6 days.

Hedge Funds Weigh In On i3 Verticals

A number of institutional investors have recently bought and sold shares of the stock. Hood River Capital Management LLC raised its stake in shares of i3 Verticals by 43.1% in the first quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock worth $25,635,000 after buying an additional 337,576 shares during the period. Confluence Investment Management LLC purchased a new stake in i3 Verticals in the 1st quarter worth approximately $3,461,000. CIBC Private Wealth Group LLC raised its stake in i3 Verticals by 147.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock worth $5,196,000 after acquiring an additional 146,222 shares during the period. Cullen Investment Group LTD. bought a new stake in i3 Verticals during the 4th quarter worth approximately $1,878,000. Finally, Wesbanco Bank Inc. purchased a new position in i3 Verticals during the first quarter valued at approximately $1,487,000. 84.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IIIV shares. TheStreet raised i3 Verticals from a “d+” rating to a “c-” rating in a research note on Monday, March 18th. KeyCorp boosted their price target on shares of i3 Verticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Benchmark restated a “buy” rating and issued a $28.00 price objective on shares of i3 Verticals in a report on Monday, April 1st. Stephens lifted their price objective on i3 Verticals from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, BMO Capital Markets decreased their target price on i3 Verticals from $25.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday, May 13th. Two 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.14.

i3 Verticals Stock Down 0.3 %

IIIV stock opened at $22.08 on Monday. The company has a market cap of $739.02 million, a price-to-earnings ratio of 2,210.21 and a beta of 1.59. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day moving average is $20.52 and its two-hundred day moving average is $20.95. i3 Verticals has a fifty-two week low of $17.54 and a fifty-two week high of $25.70.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings data on Friday, May 10th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). The business had revenue of $94.54 million during the quarter, compared to the consensus estimate of $96.27 million. i3 Verticals had a return on equity of 8.91% and a net margin of 0.63%. As a group, analysts forecast that i3 Verticals will post 0.91 earnings per share for the current year.

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.