Legato Capital Management LLC Grows Stock Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Legato Capital Management LLC lifted its holdings in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 34.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 246,184 shares of the company's stock after purchasing an additional 62,460 shares during the quarter. i3 Verticals accounts for approximately 0.8% of Legato Capital Management LLC's investment portfolio, making the stock its 11th largest position. Legato Capital Management LLC owned 0.74% of i3 Verticals worth $6,073,000 at the end of the most recent quarter.

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

i3 Verticals Stock Up 0.7%

IIIV stock traded up $0.19 during trading on Friday, hitting $28.69. 188,724 shares of the company's stock were exchanged, compared to its average volume of 347,434. The business has a 50-day moving average price of $26.45 and a two-hundred day moving average price of $25.69. The stock has a market capitalization of $953.08 million, a price-to-earnings ratio of 6.52 and a beta of 1.24. i3 Verticals, Inc. has a 52-week low of $20.42 and a 52-week high of $30.10. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.02.

Insider Transactions at i3 Verticals

In other i3 Verticals news, Director Robert Burton Harvey sold 71,860 shares of the business's 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 sale, the director owned 11,285 shares in the company, valued at approximately $279,980.85. The trade was a 86.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Geoffrey C. Smith sold 8,404 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $26.56, for a total value of $223,210.24. Following the completion of the transaction, the chief financial officer directly owned 55,000 shares in the company, 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. Insiders have sold a total of 377,261 shares of company stock worth $9,374,552 in the last three months. Corporate insiders own 59.07% of the company's stock.

Wall Street Analysts Forecast Growth

IIIV has been the topic of several recent research reports. Morgan Stanley lowered their price objective on 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. Benchmark reiterated a "buy" rating and set a $33.00 target price on shares of i3 Verticals in a research report on Monday, June 16th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.