Visualize Group LP Makes New Investment 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 position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 portfolio, making the stock its 11th biggest position. Visualize Group LP owned approximately 0.86% of i3 Verticals as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IIIV. Punch & Associates Investment Management Inc. bought a new stake in i3 Verticals during the 1st quarter worth about $11,207,000. T. Rowe Price Investment Management Inc. bought a new stake in i3 Verticals during the 1st quarter worth about $10,018,000. Harbor Capital Advisors Inc. bought a new stake in i3 Verticals during the 1st quarter worth about $6,711,000. Russell Investments Group Ltd. boosted its stake in shares of i3 Verticals by 28.0% in the 1st quarter. Russell Investments Group Ltd. now owns 390,724 shares of the company's stock valued at $9,639,000 after purchasing an additional 85,380 shares during the last quarter. Finally, Legato Capital Management LLC boosted its stake in shares of i3 Verticals by 34.0% in the 1st quarter. Legato Capital Management LLC now owns 246,184 shares of the company's stock valued at $6,073,000 after purchasing an additional 62,460 shares during the last quarter. Institutional investors own 84.22% of the company's stock.

Wall Street Analyst Weigh In

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

i3 Verticals Trading Down 2.7%

Shares of NASDAQ:IIIV traded down $0.84 during mid-day trading on Friday, reaching $30.31. The stock had a trading volume of 128,437 shares, compared to its average volume of 188,660. The firm has a market cap of $977.95 million, a PE ratio of 5.81 and a beta of 1.30. The firm has a 50 day simple moving average of $29.90 and a two-hundred day simple moving average of $26.77. i3 Verticals, Inc. has a twelve month low of $20.42 and a twelve month high of $33.44.

Insider Activity at i3 Verticals

In related news, Director Timothy Mckenna sold 6,882 shares of the 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 in the company, valued at $123,295.56. This trade represents a 63.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Paul Christians sold 1,890 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $31.40, for a total transaction of $59,346.00. Following the completion of the sale, the executive 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. Insiders have sold 11,272 shares of company stock worth $355,862 in the last ninety days. 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.