Dimensional Fund Advisors LP Acquires 68,573 Shares of i3 Verticals, Inc. $IIIV

Key Points

• Dimensional Fund Advisors increased its i3 Verticals stake by 12.5%, purchasing 68,573 shares to hold 616,851 shares worth approximately $13.8 million, or 2.02% of the company. Institutional investors collectively own 84.22% of IIIV.
• Analysts maintain a generally positive view, with five Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $29.83. However, several firms recently lowered their targets to between $27 and $30.
• CEO Gregory S. Daily bought 50,000 shares at $19.23 each, while the company’s latest quarterly results modestly exceeded expectations with EPS of $0.32 versus $0.30 forecast and revenue of $57.52 million.

Dimensional Fund Advisors LP boosted its holdings in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 616,851 shares of the company's stock after purchasing an additional 68,573 shares during the period. Dimensional Fund Advisors LP owned about 2.02% of i3 Verticals worth $13,794,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Fifth Third Bancorp bought a new stake in shares of i3 Verticals during the 1st quarter worth $28,000. CWM LLC grew its position in i3 Verticals by 221.7% during the fourth quarter. CWM LLC now owns 1,393 shares of the company's stock valued at $35,000 after buying an additional 960 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in i3 Verticals by 1,299.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,371 shares of the company's stock worth $35,000 after buying an additional 1,273 shares during the last quarter. Global Retirement Partners LLC increased its holdings in i3 Verticals by 8,259.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,839 shares of the company's stock worth $46,000 after buying an additional 1,817 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in i3 Verticals by 65.5% in the second quarter. BNP Paribas Financial Markets now owns 2,198 shares of the company's stock worth $60,000 after acquiring an additional 870 shares during the period. Institutional investors own 84.22% of the company's stock.

Wall Street Analyst Weigh In

IIIV has been the subject of a number of research reports. DA Davidson reduced their target price on shares of i3 Verticals from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Wednesday, May 13th. Weiss Ratings raised shares of i3 Verticals from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, May 12th. Cantor Fitzgerald dropped their price objective on i3 Verticals from $30.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Finally, Benchmark lowered their target price on i3 Verticals from $39.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 14th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, i3 Verticals has an average rating of "Moderate Buy" and a consensus price target of $29.83.

Insiders Place Their Bets

In related news, CEO Gregory S. Daily bought 50,000 shares of i3 Verticals stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $19.23 per share, with a total value of $961,500.00. Following the acquisition, the chief executive officer directly owned 50,000 shares of the company's stock, valued at $961,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 60.09% of the stock is owned by insiders.

i3 Verticals Price Performance

i3 Verticals stock opened at $17.47 on Friday. i3 Verticals, Inc. has a one year low of $17.03 and a one year high of $33.97. The business has a fifty day moving average price of $20.63 and a 200-day moving average price of $21.47. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $487.97 million, a P/E ratio of 45.97 and a beta of 0.83.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. The company had revenue of $57.52 million for the quarter, compared to analyst estimates of $57.51 million. i3 Verticals had a return on equity of 4.30% and a net margin of 4.24%. As a group, equities research analysts forecast that i3 Verticals, Inc. will post 0.66 EPS for the current year.

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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