765,000 Shares in i3 Verticals, Inc. (NASDAQ:IIIV) Acquired by Forager Capital Management LLC

Forager Capital Management LLC bought a new stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 765,000 shares of the company's stock, valued at approximately $17,626,000. i3 Verticals comprises approximately 7.4% of Forager Capital Management LLC's holdings, making the stock its 6th biggest holding. Forager Capital Management LLC owned approximately 2.28% of i3 Verticals at the end of the most recent quarter.

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

i3 Verticals Stock Down 0.7%

NASDAQ IIIV traded down $0.20 during mid-day trading on Thursday, hitting $26.55. The stock had a trading volume of 151,960 shares, compared to its average volume of 232,973. The company has a market cap of $878.11 million, a price-to-earnings ratio of 5.92 and a beta of 1.31. The company has a 50 day simple moving average of $24.77 and a 200 day simple moving average of $24.75. i3 Verticals, Inc. has a 52-week low of $18.75 and a 52-week high of $29.80.

Wall Street Analysts Forecast Growth

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