577,706 Shares in i3 Verticals, Inc. (NASDAQ:IIIV) Bought by Long Path Partners LP

Long Path Partners LP bought a new stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 577,706 shares of the company’s stock, valued at approximately $12,756,000. i3 Verticals comprises 5.1% of Long Path Partners LP’s investment portfolio, making the stock its 9th largest holding. Long Path Partners LP owned about 1.73% of i3 Verticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hood River Capital Management LLC lifted its holdings in shares of i3 Verticals by 43.1% in the first quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock valued at $25,635,000 after purchasing an additional 337,576 shares in the last quarter. Confluence Investment Management LLC raised its position in i3 Verticals by 102.7% during the second quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock valued at $6,768,000 after buying an additional 155,338 shares during the period. CIBC Private Wealth Group LLC lifted its stake in i3 Verticals by 147.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 245,440 shares of the company’s stock worth $5,196,000 after acquiring an additional 146,222 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in i3 Verticals by 33.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 429,065 shares of the company’s stock worth $9,474,000 after acquiring an additional 107,054 shares during the period. Finally, Heartland Advisors Inc. boosted its position in i3 Verticals by 10.9% during the 1st quarter. Heartland Advisors Inc. now owns 599,800 shares of the company’s stock worth $13,729,000 after acquiring an additional 59,050 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Trading Down 1.4 %

Shares of IIIV opened at $21.68 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market cap of $725.67 million, a price-to-earnings ratio of 2,168.00 and a beta of 1.54. The stock has a fifty day moving average price of $22.59 and a two-hundred day moving average price of $21.83. i3 Verticals, Inc. has a 52-week low of $17.54 and a 52-week high of $25.51.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.31). The company had revenue of $56.04 million for the quarter, compared to the consensus estimate of $96.43 million. i3 Verticals had a negative net margin of 0.01% and a positive return on equity of 5.99%. Analysts predict that i3 Verticals, Inc. will post 0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IIIV shares. Raymond James cut their target price on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, August 12th. Benchmark reiterated a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a report on Tuesday, September 3rd. KeyCorp lowered their target price on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Finally, Stephens reaffirmed an “overweight” rating and set a $29.00 price target on shares of i3 Verticals in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.83.

i3 Verticals 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.