Heartland Advisors Inc. Purchases 60,400 Shares of i3 Verticals, Inc. $IIIV

Key Points

• Heartland Advisors increased its stake in i3 Verticals by 11.1% in the first quarter, buying 60,400 additional shares and bringing its total holdings to 606,950 shares worth about $13.6 million.
• i3 Verticals also saw notable ownership moves from other institutions, while insiders remain heavily invested: company insiders own 60.09% of the stock, and CEO Gregory S. Daily bought 50,000 shares at $19.23 each in May.
• The company recently beat earnings expectations, reporting EPS of $0.32 versus $0.30 expected, and analysts currently rate the stock a Moderate Buy with an average price target of $29.83.

Heartland Advisors Inc. raised its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 606,950 shares of the company's stock after buying an additional 60,400 shares during the period. Heartland Advisors Inc. owned about 1.99% of i3 Verticals worth $13,571,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IIIV. Thrivent Financial for Lutherans boosted its holdings in i3 Verticals by 11.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 728,505 shares of the company's stock valued at $18,351,000 after acquiring an additional 73,420 shares during the period. William Blair Investment Management LLC bought a new position in i3 Verticals in the 4th quarter valued at $9,733,000. UBS Group AG increased its stake in i3 Verticals by 91.3% in the fourth quarter. UBS Group AG now owns 369,135 shares of the company's stock worth $9,299,000 after purchasing an additional 176,181 shares during the period. Jennison Associates LLC increased its stake in i3 Verticals by 16.5% in the fourth quarter. Jennison Associates LLC now owns 1,093,762 shares of the company's stock worth $27,552,000 after purchasing an additional 154,887 shares during the period. Finally, Wasatch Advisors LP lifted its position in shares of i3 Verticals by 44.8% during the first quarter. Wasatch Advisors LP now owns 351,804 shares of the company's stock worth $7,866,000 after purchasing an additional 108,917 shares during the last quarter. Institutional investors own 84.22% of the company's stock.

Insider Transactions at i3 Verticals

In related news, CEO Gregory S. Daily purchased 50,000 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $19.23 per share, for a total transaction of $961,500.00. Following the acquisition, the chief executive officer owned 50,000 shares of the company's stock, valued at $961,500. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 60.09% of the company's stock.

Wall Street Analyst Weigh In

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

i3 Verticals Price Performance

Shares of IIIV opened at $20.71 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.34 and a current ratio of 1.34. The company has a 50 day moving average price of $20.27 and a 200-day moving average price of $22.05. i3 Verticals, Inc. has a fifty-two week low of $18.47 and a fifty-two week high of $33.97. The stock has a market capitalization of $578.43 million, a PE ratio of 29.59 and a beta of 0.83.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 8.59% and a return on equity of 4.19%. i3 Verticals has set its FY 2026 guidance at 1.090-1.150 EPS. Equities analysts predict that i3 Verticals, Inc. will post 0.66 earnings per share for the current fiscal 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.

Want to see what other hedge funds are holding IIIV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for i3 Verticals, Inc. (NASDAQ:IIIV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.