Millennium Management LLC Has $1.30 Million Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Millennium Management LLC reduced its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 90.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,473 shares of the company's stock after selling 546,633 shares during the period. Millennium Management LLC owned 0.17% of i3 Verticals worth $1,301,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in i3 Verticals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 1,325,690 shares of the company's stock valued at $30,544,000 after purchasing an additional 19,342 shares during the last quarter. Long Path Partners LP raised its position in i3 Verticals by 5.0% during the fourth quarter. Long Path Partners LP now owns 979,777 shares of the company's stock valued at $22,574,000 after acquiring an additional 46,679 shares in the last quarter. AltraVue Capital LLC acquired a new stake in shares of i3 Verticals in the 4th quarter valued at $20,993,000. Forager Capital Management LLC bought a new stake in shares of i3 Verticals during the 4th quarter worth about $17,626,000. Finally, Portolan Capital Management LLC boosted its position in i3 Verticals by 3.5% during the fourth quarter. Portolan Capital Management LLC now owns 676,135 shares of the company's stock worth $15,578,000 after purchasing an additional 23,063 shares during the period. 84.22% of the stock is currently owned by hedge funds and other institutional investors.

i3 Verticals Trading Down 0.1%

IIIV traded down $0.03 on Friday, hitting $24.83. 405,118 shares of the stock traded hands, compared to its average volume of 246,386. The business has a fifty day moving average price of $25.02 and a two-hundred day moving average price of $24.85. The firm has a market capitalization of $824.78 million, a PE ratio of 5.53 and a beta of 1.31. i3 Verticals, Inc. has a 52 week low of $18.77 and a 52 week high of $29.80.

Insider Transactions at i3 Verticals

In other i3 Verticals news, CFO Geoffrey C. Smith sold 8,404 shares of i3 Verticals stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $26.56, for a total transaction of $223,210.24. Following the sale, the chief financial officer now directly owns 55,000 shares of the company's stock, valued at approximately $1,460,800. The trade was a 13.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Burton Harvey sold 71,860 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 value of $1,782,846.60. Following the completion of the transaction, the director now directly owns 11,285 shares of the company's stock, 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. In the last quarter, insiders have sold 377,261 shares of company stock valued at $9,374,552. 59.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

IIIV has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 13th. BMO Capital Markets raised their target price on i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a report on Monday, February 10th. KeyCorp upped their price target on i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, DA Davidson raised their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Two investment 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 company's stock. According to MarketBeat, i3 Verticals currently has an average rating of "Moderate Buy" and a consensus price target of $29.57.

i3 Verticals 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.