Jennison Associates LLC Trims Stock Position in i3 Verticals, Inc. $IIIV

Key Points

• Jennison Associates LLC cut its i3 Verticals stake by 20.5% in the first quarter, selling 223,711 shares and ending with 870,051 shares valued at about $19.45 million.
• CEO Gregory S. Daily bought 50,000 shares at $19.23 each, signaling insider confidence even as the stock recently traded near $20.68.
• Analysts have recently trimmed price targets on IIIV, but sentiment remains moderately bullish overall, with a consensus price target of $29.83 and the company having beat quarterly EPS estimates in its latest earnings report.

Jennison Associates LLC lessened its stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 20.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 870,051 shares of the company's stock after selling 223,711 shares during the quarter. Jennison Associates LLC owned 2.85% of i3 Verticals worth $19,454,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Punch & Associates Investment Management Inc. raised its position in i3 Verticals by 1.4% during the third quarter. Punch & Associates Investment Management Inc. now owns 777,477 shares of the company's stock valued at $25,237,000 after acquiring an additional 10,834 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in i3 Verticals by 11.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 728,505 shares of the company's stock worth $18,351,000 after purchasing an additional 73,420 shares in the last quarter. State Street Corp grew its stake in shares of i3 Verticals by 4.3% during the 4th quarter. State Street Corp now owns 707,344 shares of the company's stock worth $17,818,000 after purchasing an additional 29,482 shares during the period. Raymond James Financial Inc. grew its stake in shares of i3 Verticals by 3.9% during the 2nd quarter. Raymond James Financial Inc. now owns 580,373 shares of the company's stock worth $15,949,000 after purchasing an additional 21,568 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of i3 Verticals by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 566,086 shares of the company's stock valued at $18,376,000 after purchasing an additional 11,433 shares in the last quarter. Hedge funds and other institutional investors own 84.22% of the company's stock.

Insider Activity

In related news, CEO Gregory S. Daily bought 50,000 shares of the business's stock in a transaction dated 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 completion of the purchase, the chief executive officer directly owned 50,000 shares of the company's stock, valued at approximately $961,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 60.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

i3 Verticals Stock Down 0.9%

Shares of IIIV opened at $20.68 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.18. i3 Verticals, Inc. has a 12 month low of $18.47 and a 12 month high of $33.97. The stock's 50 day moving average is $20.32 and its two-hundred day moving average is $21.95. The firm has a market cap of $577.63 million, a P/E ratio of 29.54 and a beta of 0.83.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. i3 Verticals had a return on equity of 4.19% and a net margin of 8.59%.The business had revenue of $57.52 million during the quarter, compared to the consensus estimate of $57.51 million. i3 Verticals has set its FY 2026 guidance at 1.090-1.150 EPS. Analysts predict that i3 Verticals, Inc. will post 0.66 earnings per share for the current fiscal year.

About i3 Verticals

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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