i3 Verticals, Inc. $IIIV Stake Decreased by Teton Advisors Inc.

Key Points

• Teton Advisors Inc. has reduced its stake in i3 Verticals, Inc. by 44.6%, now holding approximately 0.11% of the company, worth $913,000.
• Multiple hedge funds, including Forager Capital Management and T. Rowe Price, have recently acquired new positions in i3 Verticals, leading to 84.22% of the stock being owned by institutional investors and hedge funds.
• Equities research analysts have raised their target prices for i3 Verticals, with estimates ranging from $30.00 to $40.00, indicating a predominantly positive sentiment around the stock.

Teton Advisors Inc. cut its stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 44.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,000 shares of the company's stock after selling 29,791 shares during the quarter. Teton Advisors Inc. owned about 0.11% of i3 Verticals worth $913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IIIV. JPMorgan Chase & Co. increased its position in shares of i3 Verticals by 61.3% during the fourth quarter. JPMorgan Chase & Co. now owns 15,877 shares of the company's stock worth $366,000 after acquiring an additional 6,035 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of i3 Verticals by 38.5% during the fourth quarter. Wells Fargo & Company MN now owns 15,911 shares of the company's stock worth $367,000 after acquiring an additional 4,419 shares during the last quarter. Invesco Ltd. increased 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 acquiring an additional 649 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of i3 Verticals by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 498,923 shares of the company's stock worth $11,496,000 after acquiring an additional 11,270 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of i3 Verticals by 16.0% during the fourth quarter. MetLife Investment Management LLC now owns 15,629 shares of the company's stock worth $360,000 after acquiring an additional 2,157 shares during the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Stock Up 0.2%

IIIV stock traded up $0.07 during midday trading on Friday, reaching $31.45. The company had a trading volume of 206,971 shares, compared to its average volume of 269,456. The stock has a 50 day moving average price of $29.18 and a 200 day moving average price of $26.61. i3 Verticals, Inc. has a fifty-two week low of $20.42 and a fifty-two week high of $33.44. The firm has a market capitalization of $1.01 billion, a PE ratio of 6.02 and a beta of 1.32.

Insider Buying and Selling

In other i3 Verticals news, Director Timothy Mckenna sold 6,882 shares of i3 Verticals stock in a transaction that occurred 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 transaction, the director directly owned 3,876 shares in the company, valued at $123,295.56. The trade was a 63.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 59.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.