Squarepoint Ops LLC Invests $294,000 in i3 Verticals, Inc. (NASDAQ:IIIV)

Squarepoint Ops LLC bought a new stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,774 shares of the company's stock, valued at approximately $294,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Two Sigma Investments LP lifted its position in shares of i3 Verticals by 111.9% during the 4th quarter. Two Sigma Investments LP now owns 52,296 shares of the company's stock valued at $1,205,000 after acquiring an additional 27,618 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 purchasing an additional 1,202 shares during the period. Forager Capital Management LLC bought a new position in shares of i3 Verticals in the 4th quarter worth about $17,626,000. Deutsche Bank AG increased its position in i3 Verticals by 42.5% in the 4th quarter. Deutsche Bank AG now owns 23,665 shares of the company's stock valued at $545,000 after buying an additional 7,063 shares in the last quarter. Finally, Bastion Asset Management Inc. bought a new stake in i3 Verticals in the 4th quarter valued at about $1,235,000. Institutional investors own 84.22% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on IIIV. BMO Capital Markets upped their price objective on i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a research note on Monday, February 10th. DA Davidson upped their price target on shares of i3 Verticals from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, February 10th. KeyCorp upped their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, 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 report on Tuesday, May 13th. Two 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.57.

i3 Verticals Stock Performance

IIIV stock opened at $24.83 on Friday. The firm has a market cap of $824.78 million, a PE ratio of 5.53 and a beta of 1.31. The firm's fifty day moving average is $25.02 and its 200 day moving average is $24.86. i3 Verticals, Inc. has a one year low of $18.85 and a one year high of $29.80.

Insider Activity

In other news, CFO Geoffrey C. Smith sold 8,404 shares of i3 Verticals stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $26.56, for a total transaction of $223,210.24. Following the sale, the chief financial officer now owns 55,000 shares in the company, valued at $1,460,800. This trade represents a 13.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David M. Wilds sold 218,400 shares of i3 Verticals stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total transaction of $5,418,504.00. Following the sale, the director now owns 260,657 shares in the company, valued at $6,466,900.17. This represents a 45.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 377,261 shares of company stock worth $9,374,552. Corporate insiders own 59.07% of the company's stock.

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.

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