Long Path Partners LP Boosts Position in i3 Verticals, Inc. $IIIV

Key Points

• Long Path Partners LP increased its stake in i3 Verticals, Inc. by 1.9%, holding a total of 997,996 shares worth approximately $24.6 million, making it the company's fifth largest position.
• Institutional investors own 84.22% of i3 Verticals' shares, indicating strong institutional support for the company.
• Multiple analysts have upgraded their price targets for i3 Verticals, with Benchmark raising it to $39.00 and several others recommending a "buy" or "overweight" rating.

Long Path Partners LP grew its stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 997,996 shares of the company's stock after acquiring an additional 18,219 shares during the period. i3 Verticals comprises approximately 9.5% of Long Path Partners LP's holdings, making the stock its 5th biggest position. Long Path Partners LP owned 3.02% of i3 Verticals worth $24,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Invesco Ltd. lifted its position in shares of i3 Verticals by 2.6% during the fourth quarter. Invesco Ltd. now owns 25,292 shares of the company's stock worth $583,000 after purchasing an additional 649 shares during the last quarter. Rhumbline Advisers raised its stake in i3 Verticals by 2.2% during the first quarter. Rhumbline Advisers now owns 36,331 shares of the company's stock valued at $896,000 after buying an additional 786 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in i3 Verticals by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,926 shares of the company's stock worth $196,000 after buying an additional 796 shares during the last quarter. NBC Securities Inc. lifted its holdings in i3 Verticals by 112,500.0% during the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock worth $27,000 after buying an additional 1,125 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of i3 Verticals by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,605 shares of the company's stock worth $705,000 after acquiring an additional 1,202 shares in the last quarter. Institutional investors and hedge funds own 84.22% of the company's stock.

i3 Verticals Price Performance

Shares of IIIV opened at $31.63 on Monday. i3 Verticals, Inc. has a 12 month low of $20.42 and a 12 month high of $33.44. The stock has a fifty day moving average price of $28.56 and a 200 day moving average price of $26.50. The company has a market cap of $1.02 billion, a P/E ratio of 6.06 and a beta of 1.32.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IIIV shares. Benchmark reissued a "buy" rating and set a $39.00 price target (up from $33.00) on shares of i3 Verticals in a research report on Monday, August 11th. DA Davidson boosted their target price on shares of i3 Verticals from $34.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Stephens increased their target price on shares of i3 Verticals from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Finally, Morgan Stanley raised their price target on shares of i3 Verticals from $25.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $34.33.

Insider Buying and Selling at i3 Verticals

In other news, Director Timothy Mckenna sold 6,882 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $31.81, for a total transaction of $218,916.42. Following the completion of the transaction, the director directly owned 3,876 shares in the company, valued at approximately $123,295.56. The trade was a 63.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 59.07% of the company's stock.

i3 Verticals Company 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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