i3 Verticals, Inc. (NASDAQ:IIIV) Sees Large Increase in Short Interest

i3 Verticals, Inc. (NASDAQ:IIIV) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 888,000 shares, an increase of 9.1% from the September 15th total of 814,200 shares. Based on an average trading volume of 204,100 shares, the short-interest ratio is currently 4.4 days.

i3 Verticals Price Performance

NASDAQ:IIIV traded up $0.45 during mid-day trading on Wednesday, reaching $23.19. The stock had a trading volume of 162,681 shares, compared to its average volume of 227,698. The stock has a market capitalization of $776.22 million, a P/E ratio of 2,319.00 and a beta of 1.54. The firm has a 50 day moving average price of $21.91 and a two-hundred day moving average price of $21.78. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98. i3 Verticals has a one year low of $17.54 and a one year high of $25.51.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). The business 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%. As a group, analysts expect that i3 Verticals will post 0.19 earnings per share for the current year.

Institutional Trading of i3 Verticals

Several hedge funds and other institutional investors have recently bought and sold shares of IIIV. Long Path Partners LP bought a new position in shares of i3 Verticals during the second quarter valued at about $12,756,000. Hood River Capital Management LLC lifted its holdings in i3 Verticals by 43.1% in the 1st quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock worth $25,635,000 after buying an additional 337,576 shares during the period. Mason Capital Management LLC bought a new stake in shares of i3 Verticals in the 2nd quarter worth approximately $7,443,000. Confluence Investment Management LLC increased its stake in shares of 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. Finally, Assenagon Asset Management S.A. increased its stake in shares of i3 Verticals by 33.2% during the second quarter. Assenagon Asset Management S.A. now owns 429,065 shares of the company’s stock valued at $9,474,000 after buying an additional 107,054 shares during the period. Institutional investors own 84.22% of the company’s stock.

Analyst Ratings Changes

IIIV has been the subject of several analyst reports. Stephens reissued an “overweight” rating and issued a $29.00 price target on shares of i3 Verticals in a report on Friday, August 16th. Benchmark reissued a “buy” rating and set a $33.00 price objective on shares of i3 Verticals in a research note on Tuesday, September 3rd. DA Davidson restated a “buy” rating and issued a $32.00 target price on shares of i3 Verticals in a research note on Monday, September 30th. KeyCorp dropped their price target on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Finally, BMO Capital Markets decreased their price objective on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.14.

i3 Verticals Company 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.