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

A number of other large investors have also bought and sold shares of IIIV. NBC Securities Inc. raised its holdings in shares of i3 Verticals by 112,500.0% in the first quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock valued at $27,000 after purchasing an additional 1,125 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of i3 Verticals by 2,744.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock valued at $51,000 after purchasing an additional 1,976 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of i3 Verticals in the fourth quarter valued at approximately $72,000. KLP Kapitalforvaltning AS acquired a new stake in shares of i3 Verticals in the fourth quarter valued at approximately $99,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of i3 Verticals by 52.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company's stock valued at $126,000 after purchasing an additional 1,809 shares during the last quarter. 84.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Benchmark reissued a "buy" rating and issued a $33.00 target price on shares of i3 Verticals in a research note on Monday, June 16th. Morgan Stanley decreased their target price on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.57.

Insider Buying and Selling at i3 Verticals

In other news, Director John C. Harrison sold 78,597 shares of the business's 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 completion of the sale, the director owned 3,876 shares of the company's stock, valued at approximately $96,163.56. The trade was a 95.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Geoffrey C. Smith sold 8,404 shares of the business's 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 directly owned 55,000 shares of the company's stock, valued at approximately $1,460,800. The trade was a 13.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 377,261 shares of company stock worth $9,374,552. Insiders own 59.07% of the company's stock.

i3 Verticals Stock Performance

i3 Verticals stock traded up $0.06 during mid-day trading on Wednesday, hitting $28.71. 33,720 shares of the company's stock traded hands, compared to its average volume of 298,354. The firm has a 50 day simple moving average of $26.58 and a two-hundred day simple moving average of $25.77. The stock has a market cap of $953.58 million, a price-to-earnings ratio of 6.52 and a beta of 1.24. 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 debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 1.18.

About i3 Verticals

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.