Renaissance Technologies LLC Cuts Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Renaissance Technologies LLC trimmed its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 10.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,000 shares of the company’s stock after selling 6,900 shares during the quarter. Renaissance Technologies LLC owned 0.17% of i3 Verticals worth $1,259,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. YHB Investment Advisors Inc. bought a new stake in shares of i3 Verticals during the 1st quarter worth $25,000. Comerica Bank grew its holdings in i3 Verticals by 46.0% during the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after purchasing an additional 672 shares during the period. SG Americas Securities LLC bought a new stake in shares of i3 Verticals in the second quarter valued at $116,000. Argent Capital Management LLC bought a new stake in shares of i3 Verticals in the first quarter valued at $200,000. Finally, EntryPoint Capital LLC purchased a new position in shares of i3 Verticals during the 1st quarter valued at $210,000. 84.22% of the stock is currently owned by institutional investors.

i3 Verticals Trading Up 3.1 %

IIIV stock opened at $21.96 on Friday. The company has a market capitalization of $735.05 million, a PE ratio of 2,196.00 and a beta of 1.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98. i3 Verticals, Inc. has a one year low of $17.54 and a one year high of $25.51. The company’s 50 day moving average price is $22.11 and its two-hundred day moving average price is $21.77.

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

Analysts Set New Price Targets

IIIV has been the topic of several recent research reports. Stephens reaffirmed an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a report on Friday, August 16th. Raymond James lowered their target price on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating on the stock in a research note on Monday, August 12th. Benchmark restated a “buy” rating and set a $33.00 price target on shares of i3 Verticals in a research report on Tuesday, September 3rd. BMO Capital Markets lowered their price objective on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, KeyCorp reduced their target price on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, i3 Verticals currently has an average rating of “Moderate Buy” and a consensus price target of $27.14.

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.