Bank of New York Mellon Corp Acquires Shares of 79,243 i3 Verticals, Inc. $IIIV

Key Points

• Bank of New York Mellon acquired 79,243 shares of i3 Verticals in the second quarter, worth approximately $1.69 million and representing a 0.28% stake. Institutional investors collectively own 84.22% of the company.
• i3 Verticals’ stock opened at $15.85, near its 52-week low of $15.57 and down 4.5%. The company’s latest quarterly revenue of $53.07 million missed estimates, while earnings of $0.25 per share matched expectations.
• Analyst sentiment is mixed, with three Buy, three Hold and one Sell rating; the consensus rating is Hold with a target price of $25.40.

Bank of New York Mellon Corp acquired a new stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 79,243 shares of the company's stock, valued at approximately $1,693,000. Bank of New York Mellon Corp owned 0.28% of i3 Verticals as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp acquired a new position in i3 Verticals in the first quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of i3 Verticals by 1,299.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,371 shares of the company's stock valued at $35,000 after purchasing an additional 1,273 shares in the last quarter. CWM LLC increased its holdings in shares of i3 Verticals by 221.7% during the 4th quarter. CWM LLC now owns 1,393 shares of the company's stock valued at $35,000 after purchasing an additional 960 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of i3 Verticals by 8,259.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,839 shares of the company's stock valued at $46,000 after purchasing an additional 1,817 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of i3 Verticals by 65.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,198 shares of the company's stock valued at $60,000 after purchasing an additional 870 shares during the period. Hedge funds and other institutional investors own 84.22% of the company's stock.

i3 Verticals Stock Down 4.5%

IIIV stock opened at $15.85 on Wednesday. i3 Verticals, Inc. has a 52 week low of $15.57 and a 52 week high of $33.97. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.29. The firm has a 50-day simple moving average of $19.02 and a 200-day simple moving average of $20.54. The stock has a market capitalization of $417.17 million, a P/E ratio of 41.71 and a beta of 0.81.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.25 earnings per share for the quarter, meeting analysts' consensus estimates of $0.25. i3 Verticals had a net margin of 4.24% and a return on equity of 4.49%. The firm had revenue of $53.07 million for the quarter, compared to analyst estimates of $54.99 million. i3 Verticals has set its FY 2026 guidance at 1.080-1.120 EPS. Equities analysts forecast that i3 Verticals, Inc. will post 0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. DA Davidson dropped their price target on shares of i3 Verticals from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. Weiss Ratings downgraded shares of i3 Verticals from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. Benchmark lowered shares of i3 Verticals from a "buy" rating to a "hold" rating in a research note on Monday, August 10th. Finally, KeyCorp dropped their target price on i3 Verticals from $27.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $25.40.

i3 Verticals Profile

i3 Verticals, Inc is a provider of integrated software and merchant payment processing solutions tailored for specific vertical markets across the United States. Since its founding in 2001 and headquartered in Columbia, South Carolina, the company has focused on delivering SaaS-based applications and payment services to streamline revenue collection and management workflows for its clients.

The company's product portfolio includes electronic payment processing for credit and debit card transactions, automated clearing house (ACH) transfers, online and mobile payment portals, and related risk management and compliance tools.

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