AYAL Capital Advisors Ltd Has $6.01 Million Stock Position in i3 Verticals, Inc. $IIIV

Key Points

• AYAL Capital Advisors Ltd reduced its stake in i3 Verticals, Inc. by 6.2%, selling 16,137 shares and holding 243,707 shares at the end of the first quarter.
• Multiple hedge funds have significantly increased their positions in i3 Verticals, with NBC Securities Inc. growing its holdings by 112,500% in the same period.
• Analysts are optimistic about i3 Verticals, with upgraded price targets from firms like Morgan Stanley and Stephens, indicating a consensus rating of "Moderate Buy."

AYAL Capital Advisors Ltd decreased its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,707 shares of the company's stock after selling 16,137 shares during the period. i3 Verticals accounts for approximately 2.0% of AYAL Capital Advisors Ltd's holdings, making the stock its 11th biggest holding. AYAL Capital Advisors Ltd owned about 0.74% of i3 Verticals worth $6,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IIIV. Forager Capital Management LLC acquired a new position in i3 Verticals during the 4th quarter worth about $17,626,000. T. Rowe Price Investment Management Inc. acquired a new position in i3 Verticals during the 1st quarter valued at about $10,018,000. Harbor Capital Advisors Inc. acquired a new position in i3 Verticals during the 1st quarter valued at about $6,711,000. Visualize Group LP acquired a new position in i3 Verticals during the 1st quarter valued at about $5,289,000. Finally, Russell Investments Group Ltd. lifted its position in i3 Verticals by 28.0% during the 1st quarter. Russell Investments Group Ltd. now owns 390,724 shares of the company's stock valued at $9,639,000 after purchasing an additional 85,380 shares during the period. Institutional investors and hedge funds own 84.22% of the company's stock.

i3 Verticals Trading Up 1.5%

Shares of NASDAQ:IIIV traded up $0.44 during mid-day trading on Friday, reaching $30.58. The stock had a trading volume of 120,688 shares, compared to its average volume of 243,354. The firm has a market cap of $986.66 million, a PE ratio of 5.86 and a beta of 1.30. The firm has a 50 day simple moving average of $29.66 and a two-hundred day simple moving average of $26.64. i3 Verticals, Inc. has a twelve month low of $20.42 and a twelve month high of $33.44.

Analyst Ratings Changes

A number of research analysts have issued reports on IIIV shares. DA Davidson upped their target price on shares of i3 Verticals from $34.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Stephens upped their target price on shares of i3 Verticals from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. Benchmark restated a "buy" rating and set a $39.00 target price (up from $33.00) on shares of i3 Verticals in a research report on Monday, August 11th. Finally, Morgan Stanley upped their target price on shares of i3 Verticals from $25.00 to $30.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, i3 Verticals has an average rating of "Moderate Buy" and an average price target of $34.33.

Insider Buying and Selling

In related news, Director Timothy Mckenna sold 6,882 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $31.81, for a total value of $218,916.42. Following the sale, the director directly owned 3,876 shares in the company, valued at $123,295.56. This trade represents a 63.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Paul Christians sold 1,890 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $31.40, for a total transaction of $59,346.00. Following the completion of the sale, the executive owned 43,110 shares in the company, valued at $1,353,654. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 59.07% of the company's stock.

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.