Aquatic Capital Management LLC Buys New Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Aquatic Capital Management LLC purchased a new position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,006 shares of the company's stock, valued at approximately $346,000.

Several other hedge funds have also recently modified their holdings of the stock. Oxford Asset Management LLP purchased a new stake in shares of i3 Verticals during the fourth quarter worth approximately $256,000. Johnson Financial Group Inc. purchased a new position in i3 Verticals in the 4th quarter worth approximately $72,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of i3 Verticals in the 4th quarter worth $210,000. Dark Forest Capital Management LP purchased a new position in i3 Verticals in the fourth quarter worth approximately $306,000. Finally, Continental Advisors LLC boosted its stake in shares of i3 Verticals by 41.7% in the fourth quarter. Continental Advisors LLC now owns 32,969 shares of the company's stock valued at $760,000 after purchasing an additional 9,700 shares during the period. Institutional investors and hedge funds own 84.22% of the company's stock.

i3 Verticals Stock Performance

Shares of NASDAQ IIIV traded up $0.37 during midday trading on Thursday, hitting $26.94. The company's stock had a trading volume of 106,247 shares, compared to its average volume of 228,007. The firm has a market cap of $891.01 million, a P/E ratio of 6.00 and a beta of 1.31. i3 Verticals, Inc. has a 1-year low of $18.75 and a 1-year high of $29.80. The firm's fifty day moving average price is $24.70 and its 200-day moving average price is $24.65.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. KeyCorp raised their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. DA Davidson boosted their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, February 10th. BMO Capital Markets lifted their target price on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a report on Monday, February 10th. Finally, Morgan Stanley lifted their price objective on i3 Verticals from $22.00 to $27.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $29.86.

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.