Confluence Investment Management LLC lowered its stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,147 shares of the company's stock after selling 14,482 shares during the quarter. Confluence Investment Management LLC owned approximately 0.84% of i3 Verticals worth $6,862,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Johnson Financial Group Inc. purchased a new position in shares of i3 Verticals in the fourth quarter worth approximately $72,000. KLP Kapitalforvaltning AS purchased a new position in i3 Verticals during the 4th quarter worth approximately $99,000. CIBC Private Wealth Group LLC grew its position in i3 Verticals by 52.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company's stock worth $126,000 after purchasing an additional 1,809 shares in the last quarter. AlphaQuest LLC grew its position 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 purchasing an additional 6,886 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of i3 Verticals by 26.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,130 shares of the company's stock valued at $168,000 after buying an additional 1,488 shares in the last quarter. Hedge funds and other institutional investors own 84.22% of the company's stock.
Insider Buying and Selling
In other i3 Verticals news, Director John C. Harrison sold 78,597 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total transaction of $1,949,991.57. Following the transaction, the director now owns 3,876 shares in the company, valued at $96,163.56. This trade represents a 95.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Geoffrey C. Smith sold 8,404 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $26.56, for a total value of $223,210.24. Following the transaction, the chief financial officer now owns 55,000 shares in the company, valued at approximately $1,460,800. This trade represents a 13.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 377,261 shares of company stock worth $9,374,552. Corporate insiders own 59.07% of the company's stock.
i3 Verticals Stock Performance
Shares of NASDAQ IIIV traded down $0.12 during trading hours on Friday, hitting $25.17. The stock had a trading volume of 1,179,635 shares, compared to its average volume of 242,694. The company has a market capitalization of $836.07 million, a P/E ratio of 5.61 and a beta of 1.31. The firm's 50-day moving average price is $25.05 and its two-hundred day moving average price is $24.85. i3 Verticals, Inc. has a 52 week low of $18.77 and a 52 week high of $29.80.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. DA Davidson lifted their price target on i3 Verticals from $32.00 to $34.00 and gave the company a "buy" rating in a report on Monday, February 10th. Morgan Stanley lowered their price objective on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 13th. KeyCorp boosted their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, BMO Capital Markets boosted their price objective 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. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, i3 Verticals currently has a consensus rating of "Moderate Buy" and an average target price of $29.57.
View Our Latest Analysis on IIIV
About i3 Verticals
(
Free Report)
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.
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