Palogic Value Management L.P. Reduces Stock Holdings in i3 Verticals, Inc. $IIIV

Key Points

• Palogic Value Management L.P. decreased its holdings in i3 Verticals, Inc. (NASDAQ: IIIV) by 13.2%, selling 19,789 shares during the first quarter, now owning 130,000 shares.
• Several large investors, including NBC Securities Inc. and Mirae Asset Global Investments Co. Ltd., made significant increases in their stakes in i3 Verticals in the same period.
• Analysts have a consensus rating of "Moderate Buy" for i3 Verticals, with price targets ranging from $30.00 to $40.00, indicating potential growth in share value.

Palogic Value Management L.P. lessened its stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 13.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,000 shares of the company's stock after selling 19,789 shares during the quarter. i3 Verticals accounts for about 1.4% of Palogic Value Management L.P.'s investment portfolio, making the stock its 19th biggest holding. Palogic Value Management L.P. owned about 0.39% of i3 Verticals worth $3,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Forager Capital Management LLC acquired a new stake in i3 Verticals in the fourth quarter valued at $17,626,000. T. Rowe Price Investment Management Inc. bought a new position in i3 Verticals in the 1st quarter valued at about $10,018,000. Harbor Capital Advisors Inc. bought a new position in i3 Verticals in the 1st quarter valued at about $6,711,000. Russell Investments Group Ltd. grew its holdings in shares of i3 Verticals by 28.0% during the 1st quarter. Russell Investments Group Ltd. now owns 390,724 shares of the company's stock valued at $9,639,000 after purchasing an additional 85,380 shares during the last quarter. Finally, Legato Capital Management LLC grew its holdings in shares of i3 Verticals by 34.0% during the 1st quarter. Legato Capital Management LLC now owns 246,184 shares of the company's stock valued at $6,073,000 after purchasing an additional 62,460 shares during the last quarter. Institutional investors and hedge funds own 84.22% of the company's stock.

Insider Buying and Selling

In related news, Director Timothy Mckenna sold 6,882 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $31.81, for a total value of $218,916.42. Following the completion of the sale, the director owned 3,876 shares of the company's stock, valued at $123,295.56. This trade represents a 63.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Paul Christians sold 1,890 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $31.40, for a total value of $59,346.00. Following the completion of the sale, the executive directly owned 43,110 shares of the company's stock, valued at $1,353,654. The trade was a 4.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 59.07% of the company's stock.

Analysts Set New Price Targets

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

i3 Verticals Price Performance

NASDAQ IIIV traded up $0.55 on Thursday, reaching $29.97. 32,078 shares of the company's stock traded hands, compared to its average volume of 294,005. The stock has a market cap of $966.98 million, a PE ratio of 5.74 and a beta of 1.30. i3 Verticals, Inc. has a 12 month low of $20.42 and a 12 month high of $33.44. The stock has a 50-day simple moving average of $29.49 and a 200 day simple moving average of $26.64.

i3 Verticals 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.