Bastion Asset Management Inc. Takes $1.24 Million Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Bastion Asset Management Inc. bought a new position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 54,021 shares of the company's stock, valued at approximately $1,235,000. Bastion Asset Management Inc. owned about 0.16% of i3 Verticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Johnson Financial Group Inc. bought a new stake in i3 Verticals in the fourth quarter valued at approximately $72,000. KLP Kapitalforvaltning AS acquired a new stake in shares of i3 Verticals in the 4th quarter valued at about $99,000. CIBC Private Wealth Group LLC increased its position in i3 Verticals by 52.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company's stock valued at $126,000 after buying an additional 1,809 shares in the last quarter. AlphaQuest LLC raised its stake in i3 Verticals by 688,600.0% during the 4th quarter. AlphaQuest LLC now owns 6,887 shares of the company's stock worth $159,000 after buying an additional 6,886 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in i3 Verticals by 26.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,130 shares of the company's stock valued at $168,000 after acquiring an additional 1,488 shares during the period. 84.22% of the stock is owned by institutional investors and hedge funds.

i3 Verticals Stock Performance

Shares of i3 Verticals stock traded up $0.23 during mid-day trading on Wednesday, hitting $26.54. 275,469 shares of the stock were exchanged, compared to its average volume of 228,467. The company has a market capitalization of $877.62 million, a P/E ratio of 5.91 and a beta of 1.31. The company has a 50-day simple moving average of $24.70 and a 200 day simple moving average of $24.65. i3 Verticals, Inc. has a 12 month low of $18.75 and a 12 month high of $29.80.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.36% and a net margin of 41.85%. Analysts predict that i3 Verticals, Inc. will post 0.9 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on IIIV. DA Davidson upped their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, February 10th. BMO Capital Markets raised their price target on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a research report on Monday, February 10th. KeyCorp lifted their price target on i3 Verticals from $27.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Finally, Morgan Stanley increased their price objective on i3 Verticals from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $29.86.

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.