Two Sigma Investments LP Has $1.21 Million Stake in i3 Verticals, Inc. (NASDAQ:IIIV)

Two Sigma Investments LP increased its position in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 111.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,296 shares of the company's stock after buying an additional 27,618 shares during the quarter. Two Sigma Investments LP owned about 0.16% of i3 Verticals worth $1,205,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. AltraVue Capital LLC purchased a new stake in shares of i3 Verticals during the fourth quarter valued at $20,993,000. Forager Capital Management LLC purchased a new stake in shares of i3 Verticals during the fourth quarter valued at $17,626,000. Raymond James Financial Inc. purchased a new stake in shares of i3 Verticals during the fourth quarter valued at $13,313,000. Legato Capital Management LLC purchased a new stake in shares of i3 Verticals during the fourth quarter valued at $4,233,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of i3 Verticals by 1,855.9% during the fourth quarter. New York State Common Retirement Fund now owns 175,833 shares of the company's stock valued at $4,051,000 after purchasing an additional 166,843 shares during the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Stock Performance

NASDAQ:IIIV traded down $0.03 during trading hours on Friday, hitting $24.83. 405,118 shares of the company's stock traded hands, compared to its average volume of 246,782. The firm has a market cap of $824.78 million, a P/E ratio of 5.53 and a beta of 1.22. i3 Verticals, Inc. has a twelve month low of $18.85 and a twelve month high of $29.80. The stock's fifty day moving average price is $25.02 and its two-hundred day moving average price is $24.87.

Insiders Place Their Bets

In other i3 Verticals news, CFO Geoffrey C. Smith sold 8,404 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $26.56, for a total value of $223,210.24. Following the transaction, the chief financial officer now directly owns 55,000 shares of the company's stock, valued at $1,460,800. This represents a 13.25% decrease in their position. The sale 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 the company's stock in a transaction dated Tuesday, May 13th. The stock was 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 now directly owns 260,657 shares in the company, valued at approximately $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 in the last three months. Insiders own 59.07% of the company's stock.

Wall Street Analysts Forecast Growth

IIIV has been the subject of several analyst reports. KeyCorp upped their target price on i3 Verticals from $27.00 to $32.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Morgan Stanley reduced their target price on i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, May 13th. DA Davidson upped their target price on i3 Verticals from $32.00 to $34.00 and gave the company a "buy" rating in a report on Monday, February 10th. Finally, BMO Capital Markets upped their price target on i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.57.

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.