Forager Capital Management LLC Invests $17.63 Million in i3 Verticals, Inc. (NASDAQ:IIIV)

Forager Capital Management LLC bought a new position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 765,000 shares of the company's stock, valued at approximately $17,626,000. i3 Verticals accounts for about 7.4% of Forager Capital Management LLC's investment portfolio, making the stock its 6th largest holding. Forager Capital Management LLC owned approximately 2.28% of i3 Verticals at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IIIV. Johnson Financial Group Inc. purchased a new stake in i3 Verticals during the fourth quarter valued at about $72,000. KLP Kapitalforvaltning AS purchased a new stake in shares of i3 Verticals in the 4th quarter valued at approximately $99,000. CIBC Private Wealth Group LLC boosted its stake in i3 Verticals by 52.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,260 shares of the company's stock worth $126,000 after purchasing an additional 1,809 shares during the period. AlphaQuest LLC boosted its stake in i3 Verticals by 688,600.0% in the 4th quarter. AlphaQuest LLC now owns 6,887 shares of the company's stock worth $159,000 after purchasing an additional 6,886 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in i3 Verticals by 26.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,130 shares of the company's stock worth $168,000 after purchasing an additional 1,488 shares in the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Trading Down 4.6 %

i3 Verticals stock opened at $25.66 on Friday. i3 Verticals, Inc. has a 1-year low of $18.75 and a 1-year high of $29.80. The firm's fifty day simple moving average is $24.74 and its 200-day simple moving average is $24.69. The company has a market capitalization of $848.68 million, a P/E ratio of 5.71 and a beta of 1.31.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.36%. On average, equities research analysts predict that i3 Verticals, Inc. will post 0.9 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on IIIV. BMO Capital Markets raised their target price on i3 Verticals from $22.00 to $26.00 and gave the stock a "market perform" rating in a research report on Monday, February 10th. KeyCorp lifted their target price on i3 Verticals from $27.00 to $32.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Morgan Stanley upped their target price on i3 Verticals from $22.00 to $27.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Finally, DA Davidson raised their price target on shares of i3 Verticals from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $29.86.

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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