Kapitalo Investimentos Ltda Takes Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Key Points

• Kapitalo Investimentos Ltda acquired a new stake in i3 Verticals, purchasing 11,873 shares valued at approximately $293,000.
• Several hedge funds increased their positions in i3 Verticals, with AltraVue Capital LLC investing nearly $21 million in the fourth quarter alone.
• Current ratings for i3 Verticals include a "Moderate Buy" consensus, with an average price target of $29.57 from analysts.

Kapitalo Investimentos Ltda bought a new stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,873 shares of the company's stock, valued at approximately $293,000.

A number of other hedge funds have also made changes to their positions in the business. AltraVue Capital LLC acquired a new stake in i3 Verticals during the 4th quarter valued at $20,993,000. Forager Capital Management LLC acquired a new stake in i3 Verticals during the 4th quarter valued at $17,626,000. Harbor Capital Advisors Inc. acquired a new stake in i3 Verticals during the 1st quarter valued at $6,711,000. Cramer Rosenthal Mcglynn LLC grew its holdings in i3 Verticals by 32.3% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 276,530 shares of the company's stock valued at $6,371,000 after purchasing an additional 67,489 shares in the last quarter. Finally, Legato Capital Management LLC grew its holdings in i3 Verticals by 34.0% during the 1st quarter. Legato Capital Management LLC now owns 246,184 shares of the company's stock valued at $6,073,000 after purchasing an additional 62,460 shares in the last quarter. Hedge funds and other institutional investors own 84.22% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IIIV shares. Benchmark reaffirmed a "buy" rating and set a $33.00 price target on shares of i3 Verticals in a report on Monday, June 16th. Morgan Stanley reduced their price target on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, i3 Verticals presently has a consensus rating of "Moderate Buy" and an average price target of $29.57.

Insider Activity

In related news, Director John C. Harrison sold 78,597 shares of i3 Verticals stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total value of $1,949,991.57. Following the sale, the director directly owned 3,876 shares in the company, valued at $96,163.56. This trade represents a 95.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Geoffrey C. Smith sold 8,404 shares of i3 Verticals stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $26.56, for a total transaction of $223,210.24. Following the completion of the sale, the chief financial officer owned 55,000 shares in the company, valued at approximately $1,460,800. This represents a 13.25% 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 company insiders.

i3 Verticals Trading Up 0.7%

Shares of NASDAQ:IIIV opened at $28.69 on Friday. The company has a market cap of $953.08 million, a PE ratio of 6.52 and a beta of 1.24. The company's 50-day moving average price is $26.45 and its 200 day moving average price is $25.70. i3 Verticals, Inc. has a fifty-two week low of $20.42 and a fifty-two week high of $30.10. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.02.

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.

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