i3 Verticals, Inc. (NASDAQ:IIIV) Short Interest Update

i3 Verticals, Inc. (NASDAQ:IIIV) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 841,200 shares, a decline of 8.3% from the November 15th total of 917,700 shares. Based on an average daily trading volume, of 218,500 shares, the days-to-cover ratio is presently 3.8 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Benchmark reissued a “buy” rating and set a $33.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. Stephens reiterated an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research report on Tuesday, November 19th. BMO Capital Markets dropped their price target on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, October 3rd. Finally, DA Davidson reiterated a “buy” rating and issued a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.14.

Insider Activity at i3 Verticals

In related news, President Frederick Stanford sold 17,577 shares of the business’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 owns 100,000 shares of the company’s stock, valued at approximately $2,528,000. The trade was a 14.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On i3 Verticals

Several hedge funds have recently bought and sold shares of IIIV. Comerica Bank increased its position in i3 Verticals by 46.0% during the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock worth $49,000 after buying an additional 672 shares in the last quarter. Quantbot Technologies LP purchased a new position in i3 Verticals during the third quarter worth $109,000. SG Americas Securities LLC purchased a new position in i3 Verticals during the second quarter worth $116,000. Atom Investors LP purchased a new position in i3 Verticals during the third quarter worth $218,000. Finally, Sanctuary Advisors LLC acquired a new position in i3 Verticals in the second quarter valued at $292,000. Hedge funds and other institutional investors own 84.22% of the company’s stock.

i3 Verticals Stock Performance

i3 Verticals stock opened at $22.45 on Monday. The stock has a fifty day moving average of $23.70 and a two-hundred day moving average of $22.44. The company has a market capitalization of $752.97 million, a price-to-earnings ratio of 5.04 and a beta of 1.49. i3 Verticals has a fifty-two week low of $17.54 and a fifty-two week high of $26.66.

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.