i3 Verticals, Inc. (NASDAQ:IIIV) Shares Purchased by Hood River Capital Management LLC

Hood River Capital Management LLC grew its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,190,184 shares of the company’s stock after acquiring an additional 70,253 shares during the period. Hood River Capital Management LLC owned about 3.56% of i3 Verticals worth $26,279,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Confluence Investment Management LLC raised its stake in i3 Verticals by 102.7% during the second quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock valued at $6,768,000 after buying an additional 155,338 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in i3 Verticals by 147.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock worth $5,196,000 after purchasing an additional 146,222 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in i3 Verticals by 33.2% during the second quarter. Assenagon Asset Management S.A. now owns 429,065 shares of the company’s stock worth $9,474,000 after purchasing an additional 107,054 shares during the last quarter. Heartland Advisors Inc. boosted its holdings in i3 Verticals by 10.9% in the first quarter. Heartland Advisors Inc. now owns 599,800 shares of the company’s stock worth $13,729,000 after purchasing an additional 59,050 shares during the period. Finally, Kings Path Partners LLC bought a new stake in i3 Verticals during the second quarter valued at $1,076,000. Institutional investors own 84.22% of the company’s stock.

i3 Verticals Price Performance

Shares of NASDAQ:IIIV opened at $21.99 on Monday. The firm’s 50 day moving average is $22.62 and its two-hundred day moving average is $21.84. The firm has a market capitalization of $736.05 million, a P/E ratio of 2,199.00 and a beta of 1.54. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01. i3 Verticals, Inc. has a 52 week low of $17.54 and a 52 week high of $25.51.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). The business had revenue of $56.04 million during the quarter, compared to the consensus estimate of $96.43 million. i3 Verticals had a positive return on equity of 5.99% and a negative net margin of 0.01%. Analysts anticipate that i3 Verticals, Inc. will post 0.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Benchmark restated a “buy” rating and issued a $33.00 price target on shares of i3 Verticals in a research report on Tuesday, September 3rd. KeyCorp dropped their price objective on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Stephens restated an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a research note on Friday, August 16th. Finally, Raymond James dropped their price target on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.83.

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.