Visualize Group LP Purchases Shares of 214,400 i3 Verticals, Inc. $IIIV

Key Points

• Visualize Group LP has invested approximately $5.29 million in i3 Verticals, Inc., acquiring 214,400 shares, which now constitutes 2.8% of their investment portfolio.
• Numerous institutional investors, including Long Path Partners and Forager Capital Management, have also increased their stakes in i3 Verticals, indicating growing institutional interest in the company.
• Brokerages have forecasted positive growth for i3 Verticals, with several firms raising their target prices to around $39, reflecting a strong buy sentiment among analysts.

Visualize Group LP purchased a new position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 214,400 shares of the company's stock, valued at approximately $5,289,000. i3 Verticals comprises 2.8% of Visualize Group LP's portfolio, making the stock its 11th biggest position. Visualize Group LP owned about 0.65% of i3 Verticals at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in i3 Verticals by 2,744.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock valued at $51,000 after purchasing an additional 1,976 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in i3 Verticals by 8.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 17,473 shares of the company's stock worth $431,000 after buying an additional 1,368 shares during the period. Squarepoint Ops LLC purchased a new stake in i3 Verticals during the 4th quarter worth approximately $294,000. NBC Securities Inc. increased its stake in i3 Verticals by 112,500.0% during the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock worth $27,000 after buying an additional 1,125 shares during the period. Finally, Rhumbline Advisers increased its stake in i3 Verticals by 2.2% during the 1st quarter. Rhumbline Advisers now owns 36,331 shares of the company's stock worth $896,000 after buying an additional 786 shares during the period. 84.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IIIV has been the topic of a number of recent analyst reports. Stephens increased their price objective on shares of i3 Verticals from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Monday, August 11th. DA Davidson upped their target price on shares of i3 Verticals from $34.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Morgan Stanley upped their target price on shares of i3 Verticals from $25.00 to $30.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Finally, Benchmark restated a "buy" rating and issued a $39.00 target price (up previously from $33.00) on shares of i3 Verticals in a report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $34.33.

i3 Verticals Stock Performance

i3 Verticals stock traded up $0.44 during trading hours on Friday, reaching $30.58. 120,688 shares of the stock were exchanged, compared to its average volume of 243,354. The stock has a market cap of $986.51 million, a P/E ratio of 5.86 and a beta of 1.30. i3 Verticals, Inc. has a 52-week low of $20.42 and a 52-week high of $33.44. The firm's 50 day moving average is $29.66 and its 200 day moving average is $26.66.

Insider Activity

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

i3 Verticals Company 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.