D. E. Shaw & Co. Inc. Reduces Stock Position in i3 Verticals, Inc. (NASDAQ:IIIV)

D. E. Shaw & Co. Inc. cut its holdings in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 45.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,140 shares of the company's stock after selling 16,211 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.06% of i3 Verticals worth $441,000 as of its most recent SEC filing.

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

i3 Verticals Price Performance

Shares of NASDAQ:IIIV traded down $0.12 during midday trading on Friday, hitting $25.17. 1,179,635 shares of the company's stock were exchanged, compared to its average volume of 242,694. The stock has a 50 day moving average price of $25.05 and a 200-day moving average price of $24.85. The company has a market cap of $836.07 million, a PE ratio of 5.61 and a beta of 1.31. i3 Verticals, Inc. has a 12 month low of $18.77 and a 12 month high of $29.80.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IIIV shares. KeyCorp boosted their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. BMO Capital Markets increased their price objective on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a "market perform" rating in a research report on Monday, February 10th. DA Davidson increased their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Finally, Morgan Stanley decreased their price objective on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, i3 Verticals presently has an average rating of "Moderate Buy" and a consensus target price of $29.57.

Insider Transactions at i3 Verticals

In other i3 Verticals news, Director David M. Wilds sold 218,400 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total value of $5,418,504.00. Following the transaction, the director now directly owns 260,657 shares in the company, valued at $6,466,900.17. The trade was a 45.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Burton Harvey sold 71,860 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total transaction of $1,782,846.60. Following the completion of the transaction, the director now owns 11,285 shares in the company, valued at approximately $279,980.85. The trade was a 86.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 377,261 shares of company stock valued at $9,374,552 over the last three months. Corporate insiders own 59.07% of the company's stock.

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.