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

i3 Verticals, Inc. (NASDAQ:IIIV) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 772,300 shares, a decline of 8.2% from the November 30th total of 841,200 shares. Based on an average daily trading volume, of 236,500 shares, the days-to-cover ratio is presently 3.3 days.

i3 Verticals Stock Down 2.7 %

IIIV stock traded down $0.63 during mid-day trading on Wednesday, hitting $23.04. The company had a trading volume of 434,521 shares, compared to its average volume of 225,386. The company has a 50-day moving average price of $23.80 and a 200 day moving average price of $22.76. i3 Verticals has a 12-month low of $17.54 and a 12-month high of $26.66. The company has a market capitalization of $772.76 million, a price-to-earnings ratio of 5.18 and a beta of 1.49.

Analyst Ratings Changes

A number of equities research analysts have commented on IIIV shares. BMO Capital Markets decreased their target price on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, October 3rd. Stephens restated an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. Benchmark reiterated a “buy” rating and issued a $33.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. Finally, DA Davidson restated a “buy” rating and issued a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Two 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. Based on data from MarketBeat.com, i3 Verticals has an average rating of “Moderate Buy” and an average price target of $27.14.

Insider Activity at i3 Verticals

In other news, President Frederick Stanford sold 17,577 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total value of $444,346.56. Following the transaction, the president now owns 100,000 shares of the company’s stock, valued at $2,528,000. This trade represents 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 through this hyperlink. 34.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On i3 Verticals

Large investors have recently added to or reduced their stakes in the stock. Select Equity Group L.P. boosted its stake in shares of i3 Verticals by 1.8% during the second quarter. Select Equity Group L.P. now owns 65,730 shares of the company’s stock valued at $1,451,000 after purchasing an additional 1,147 shares during the period. Victory Capital Management Inc. lifted its holdings in i3 Verticals by 4.5% during the 2nd quarter. Victory Capital Management Inc. now owns 45,700 shares of the company’s stock valued at $1,009,000 after buying an additional 1,950 shares in the last quarter. Argent Capital Management LLC boosted its position in i3 Verticals by 15.0% in the 3rd quarter. Argent Capital Management LLC now owns 16,180 shares of the company’s stock valued at $345,000 after buying an additional 2,114 shares during the period. State Street Corp grew its stake in i3 Verticals by 0.5% in the 3rd quarter. State Street Corp now owns 495,943 shares of the company’s stock worth $10,569,000 after acquiring an additional 2,664 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of i3 Verticals during the third quarter worth approximately $109,000. 84.22% of the stock is owned by institutional investors.

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.