North Reef Capital Management LP Acquires 949,289 Shares of i3 Verticals, Inc. $IIIV

Key Points

• North Reef Capital Management dramatically increased its stake in i3 Verticals, buying 949,289 shares in the first quarter and lifting its holdings by 1,253.8% to 1,025,000 shares. The position was valued at about $22.9 million and represented roughly 3.36% of the company.
• Insider buying also stood out, with CEO Gregory S. Daily purchasing 50,000 shares at $19.23 each, worth about $961,500. Corporate insiders now own about 60.09% of the stock.
• i3 Verticals beat quarterly earnings estimates, reporting $0.32 EPS versus $0.30 expected, while revenue matched forecasts at $57.52 million. Analysts still view the stock as a Moderate Buy, though several recently trimmed price targets.

North Reef Capital Management LP lifted its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 1,253.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,025,000 shares of the company's stock after purchasing an additional 949,289 shares during the quarter. i3 Verticals accounts for approximately 0.8% of North Reef Capital Management LP's portfolio, making the stock its 29th largest position. North Reef Capital Management LP owned about 3.36% of i3 Verticals worth $22,919,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of IIIV. The Manufacturers Life Insurance Company raised its stake in i3 Verticals by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,619 shares of the company's stock valued at $237,000 after purchasing an additional 402 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of i3 Verticals by 2.4% in the 4th quarter. Vident Advisory LLC now owns 25,240 shares of the company's stock worth $636,000 after buying an additional 580 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of i3 Verticals by 2.4% in the 1st quarter. Cetera Investment Advisers now owns 26,636 shares of the company's stock worth $596,000 after buying an additional 613 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of i3 Verticals by 65.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,198 shares of the company's stock valued at $60,000 after buying an additional 870 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of i3 Verticals by 5.9% during the 3rd quarter. Sei Investments Co. now owns 16,589 shares of the company's stock valued at $538,000 after buying an additional 923 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other i3 Verticals news, CEO Gregory S. Daily purchased 50,000 shares of the stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $19.23 per share, with a total value of $961,500.00. Following the completion of the purchase, the chief executive officer directly owned 50,000 shares of the company's stock, valued at approximately $961,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 60.09% of the stock is owned by corporate insiders.

i3 Verticals Trading Up 2.1%

IIIV stock opened at $20.19 on Friday. The company has a market capitalization of $563.91 million, a PE ratio of 28.84 and a beta of 0.83. i3 Verticals, Inc. has a one year low of $18.47 and a one year high of $33.97. The company's 50 day moving average price is $20.38 and its two-hundred day moving average price is $21.86. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.34 and a current ratio of 1.34.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. i3 Verticals had a net margin of 8.59% and a return on equity of 4.19%. The firm had revenue of $57.52 million during the quarter, compared to analyst estimates of $57.51 million. i3 Verticals has set its FY 2026 guidance at 1.090-1.150 EPS. As a group, analysts predict that i3 Verticals, Inc. will post 0.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. DA Davidson cut their target price on shares of i3 Verticals from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Wednesday, May 13th. Weiss Ratings upgraded i3 Verticals from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, May 12th. Cantor Fitzgerald dropped their price target on i3 Verticals from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Finally, Benchmark dropped their price target on i3 Verticals from $39.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, i3 Verticals has a consensus rating of "Moderate Buy" and a consensus target price of $29.83.

i3 Verticals Profile

i3 Verticals, Inc is a provider of integrated software and merchant payment processing solutions tailored for specific vertical markets across the United States. Since its founding in 2001 and headquartered in Columbia, South Carolina, the company has focused on delivering SaaS-based applications and payment services to streamline revenue collection and management workflows for its clients.

The company's product portfolio includes electronic payment processing for credit and debit card transactions, automated clearing house (ACH) transfers, online and mobile payment portals, and related risk management and compliance tools.

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