Visualize Group LP Takes $7.01 Million Position in i3 Verticals, Inc. $IIIV

Key Points

• Visualize Group LP has acquired a stake in i3 Verticals, Inc., purchasing 284,287 shares valued at approximately $7.01 million, making it the firm’s 11th largest position.
• Institutional investors own a total of 84.22% of i3 Verticals' stock, with several firms significantly increasing their stakes in the first quarter.
• Analysts have recently raised their price targets for i3 Verticals, with prices now ranging from $30.00 to $40.00, indicating a consensus rating of "Moderate Buy."

Visualize Group LP acquired a new stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 284,287 shares of the company's stock, valued at approximately $7,013,000. i3 Verticals comprises about 2.3% of Visualize Group LP's holdings, making the stock its 11th largest position. Visualize Group LP owned 0.86% of i3 Verticals at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. 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 acquiring an additional 1,125 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of i3 Verticals by 2,744.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock valued at $51,000 after acquiring an additional 1,976 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of i3 Verticals during the 1st quarter valued at $151,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in i3 Verticals by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,926 shares of the company's stock worth $196,000 after buying an additional 796 shares during the period. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in i3 Verticals during the 1st quarter worth about $207,000. Institutional investors own 84.22% of the company's stock.

i3 Verticals Price Performance

Shares of i3 Verticals stock opened at $30.58 on Monday. i3 Verticals, Inc. has a one year low of $20.42 and a one year high of $33.44. The firm has a market capitalization of $986.51 million, a price-to-earnings ratio of 5.86 and a beta of 1.30. The business has a 50-day simple moving average of $29.66 and a 200 day simple moving average of $26.63.

Insider Transactions at i3 Verticals

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

Analyst Ratings Changes

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

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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