Sanctuary Advisors LLC Has $276,000 Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Sanctuary Advisors LLC reduced its position in i3 Verticals, Inc. (NASDAQ:IIIV) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,660 shares of the company’s stock after selling 963 shares during the quarter. Sanctuary Advisors LLC’s holdings in i3 Verticals were worth $276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in i3 Verticals in the third quarter valued at about $109,000. Atom Investors LP acquired a new stake in shares of i3 Verticals in the 3rd quarter valued at approximately $218,000. Bares Capital Management Inc. bought a new stake in shares of i3 Verticals during the 3rd quarter valued at approximately $334,000. Argent Capital Management LLC increased its position in i3 Verticals by 15.0% during the 3rd quarter. Argent Capital Management LLC now owns 16,180 shares of the company’s stock worth $345,000 after purchasing an additional 2,114 shares in the last quarter. Finally, Continental Advisors LLC bought a new position in i3 Verticals in the 2nd quarter valued at approximately $635,000. 84.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Stephens reiterated an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a report on Tuesday, November 19th. BMO Capital Markets lowered their target price on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, October 3rd. DA Davidson reiterated a “buy” rating and issued a $32.00 target price on shares of i3 Verticals in a research report on Monday, September 30th. Finally, Benchmark restated a “buy” rating and set a $33.00 price target on shares of i3 Verticals in a report on Tuesday, November 19th. Two research 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’s stock. According to data from MarketBeat.com, i3 Verticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

i3 Verticals Price Performance

Shares of IIIV opened at $23.91 on Friday. The business has a 50-day moving average of $23.78 and a 200-day moving average of $22.69. The company has a market capitalization of $801.94 million, a price-to-earnings ratio of 5.37 and a beta of 1.49. i3 Verticals, Inc. has a 1 year low of $17.54 and a 1 year high of $26.66.

Insiders Place Their Bets

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of the company’s stock in a transaction on 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. This represents a 14.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 34.00% of the company’s stock.

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.