Royce & Associates LP Sells 19,430 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Key Points

• Royce & Associates LP has reduced its stake in i3 Verticals, Inc. by 3.6%, selling 19,430 shares, which brings their total ownership to approximately $12.9 million.
• Multiple institutional investors, including Vanguard Group Inc. and Long Path Partners LP, have recently increased their stakes in i3 Verticals, with 84.22% of the stock now owned by institutional investors.
• Analyst recommendations for i3 Verticals vary, with Morgan Stanley lowering its target price from $27.00 to $25.00, while Benchmark maintains a "buy" rating with a price objective of $33.00.

Royce & Associates LP decreased its holdings in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 521,920 shares of the company's stock after selling 19,430 shares during the period. Royce & Associates LP owned about 1.58% of i3 Verticals worth $12,876,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

IIIV has been the subject of a number of recent analyst reports. Morgan Stanley dropped their target price on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 13th. Benchmark reaffirmed a "buy" rating and set a $33.00 price objective on shares of i3 Verticals in a report on Monday, June 16th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.57.

Insider Activity at i3 Verticals

In other i3 Verticals news, Director Robert Burton Harvey sold 71,860 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total transaction of $1,782,846.60. Following the transaction, the director owned 11,285 shares of the company's stock, valued at approximately $279,980.85. This represents a 86.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $5,418,504.00. Following the completion of the transaction, the director owned 260,657 shares in the company, valued at $6,466,900.17. The trade was a 45.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 377,261 shares of company stock valued at $9,374,552 over the last ninety days. Company insiders own 59.07% of the company's stock.

i3 Verticals Stock Up 0.7%

Shares of NASDAQ IIIV opened at $28.69 on Friday. i3 Verticals, Inc. has a 12-month low of $20.42 and a 12-month high of $30.10. The firm's 50-day simple moving average is $26.45 and its 200 day simple moving average is $25.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.02. The company has a market cap of $953.08 million, a price-to-earnings ratio of 6.52 and a beta of 1.24.

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.

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