i3 Verticals, Inc. (NASDAQ:IIIV) Short Interest Up 5.0% in November

i3 Verticals, Inc. (NASDAQ:IIIV) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 917,700 shares, an increase of 5.0% from the October 31st total of 873,800 shares. Based on an average trading volume of 200,500 shares, the short-interest ratio is currently 4.6 days.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Raymond James decreased their price target 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 reissued a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. Stephens reissued an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. KeyCorp cut their price target on shares of i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Finally, DA Davidson restated a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.14.

i3 Verticals Stock Down 0.8 %

IIIV opened at $24.55 on Thursday. The firm has a market capitalization of $823.41 million, a P/E ratio of 5.52 and a beta of 1.49. The firm’s 50 day moving average is $23.35 and its 200-day moving average is $22.20. i3 Verticals has a 52-week low of $17.54 and a 52-week high of $26.66.

Insider Activity at i3 Verticals

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total transaction of $444,346.56. Following the sale, the president now directly owns 100,000 shares of the company’s stock, valued at $2,528,000. This trade represents a 14.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 34.00% of the stock is owned by corporate insiders.

Institutional Trading of i3 Verticals

A number of hedge funds have recently made changes to their positions in IIIV. Comerica Bank raised its stake in shares of 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. Quantbot Technologies LP acquired a new stake in shares of i3 Verticals during the third quarter worth approximately $109,000. SG Americas Securities LLC acquired a new stake in shares of i3 Verticals during the second quarter worth approximately $116,000. Atom Investors LP acquired a new stake in shares of i3 Verticals during the third quarter worth approximately $218,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of i3 Verticals during the second quarter worth approximately $292,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.

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.