Kings Path Partners LLC Lowers Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Kings Path Partners LLC reduced its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 38.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,925 shares of the company's stock after selling 18,820 shares during the quarter. Kings Path Partners LLC owned 0.09% of i3 Verticals worth $738,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of IIIV. Gamco Investors INC. ET AL raised its position in shares of i3 Verticals by 0.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 92,516 shares of the company's stock valued at $2,132,000 after buying an additional 475 shares during the last quarter. Invesco Ltd. raised its position in i3 Verticals by 2.6% in the fourth quarter. Invesco Ltd. now owns 25,292 shares of the company's stock worth $583,000 after purchasing an additional 649 shares in the last quarter. Pitcairn Co. raised its position in i3 Verticals by 4.0% in the fourth quarter. Pitcairn Co. now owns 17,183 shares of the company's stock worth $396,000 after purchasing an additional 657 shares in the last quarter. Sei Investments Co. raised its position in i3 Verticals by 5.7% in the fourth quarter. Sei Investments Co. now owns 14,294 shares of the company's stock worth $329,000 after purchasing an additional 770 shares in the last quarter. Finally, Swiss National Bank raised its position in i3 Verticals by 2.0% in the fourth quarter. Swiss National Bank now owns 46,700 shares of the company's stock worth $1,076,000 after purchasing an additional 900 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director David M. Wilds sold 218,400 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total transaction of $5,418,504.00. Following the transaction, the director now owns 260,657 shares of the company's stock, valued at approximately $6,466,900.17. This trade represents a 45.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Geoffrey C. Smith sold 8,404 shares of the stock in a transaction on Thursday, May 15th. The shares were 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 $1,460,800. The trade was a 13.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 377,261 shares of company stock worth $9,374,552 over the last quarter. Insiders own 59.07% of the company's stock.

i3 Verticals Trading Up 3.2%

NASDAQ IIIV traded up $0.77 on Tuesday, hitting $24.60. 136,247 shares of the company were exchanged, compared to its average volume of 243,772. i3 Verticals, Inc. has a 12 month low of $18.77 and a 12 month high of $29.80. The company has a market cap of $817.14 million, a PE ratio of 5.48 and a beta of 1.31. The stock has a fifty day moving average of $25.02 and a 200-day moving average of $24.84.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a "market perform" rating in a research note on Monday, February 10th. DA Davidson upped 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. KeyCorp upped their price objective on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Finally, Morgan Stanley decreased their price objective on shares of 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. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, i3 Verticals currently has an average rating of "Moderate Buy" and a consensus target price of $29.57.

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.