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

i3 Verticals, Inc. (NASDAQ:IIIV) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 818,100 shares, a growth of 11.1% from the August 15th total of 736,500 shares. Based on an average daily volume of 217,100 shares, the days-to-cover ratio is presently 3.8 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Long Path Partners LP bought a new stake in shares of i3 Verticals in the second quarter worth approximately $12,756,000. Hood River Capital Management LLC lifted its holdings in shares of i3 Verticals by 43.1% during the 1st quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock valued at $25,635,000 after buying an additional 337,576 shares during the period. Mason Capital Management LLC purchased a new position in shares of i3 Verticals in the 2nd quarter worth $7,443,000. Confluence Investment Management LLC grew its holdings in shares of i3 Verticals by 102.7% in the second quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock worth $6,768,000 after acquiring an additional 155,338 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position 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 valued at $5,196,000 after acquiring an additional 146,222 shares during the last quarter. 84.22% of the stock is owned by institutional investors.

i3 Verticals Stock Down 0.2 %

NASDAQ:IIIV traded down $0.05 during trading hours on Wednesday, reaching $22.32. 17,023 shares of the company traded hands, compared to its average volume of 220,897. i3 Verticals has a 1 year low of $17.54 and a 1 year high of $25.51. The stock has a market capitalization of $747.10 million, a P/E ratio of 2,222.00 and a beta of 1.55. The business’s 50-day moving average price is $22.62 and its two-hundred day moving average price is $21.81. 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 (NASDAQ:IIIV) last issued its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.31). The firm 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 predict that i3 Verticals will post 0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IIIV. Stephens reaffirmed an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a research note on Friday, August 16th. Raymond James cut 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 report on Monday, August 12th. KeyCorp cut their price objective on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Finally, Benchmark reaffirmed a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.83.

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.