Hood River Capital Management LLC Sells 599,616 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Hood River Capital Management LLC reduced its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 44.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 743,705 shares of the company's stock after selling 599,616 shares during the quarter. Hood River Capital Management LLC owned about 2.22% of i3 Verticals worth $17,135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of i3 Verticals in the 4th quarter worth $99,000. CIBC Private Wealth Group LLC lifted its stake in shares of 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 buying an additional 1,809 shares in the last quarter. AlphaQuest LLC increased its position in shares of i3 Verticals by 688,600.0% during the fourth quarter. AlphaQuest LLC now owns 6,887 shares of the company's stock worth $159,000 after acquiring an additional 6,886 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of i3 Verticals by 26.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,130 shares of the company's stock worth $168,000 after acquiring an additional 1,488 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in i3 Verticals by 62.4% in the 4th quarter. SG Americas Securities LLC now owns 8,646 shares of the company's stock valued at $199,000 after acquiring an additional 3,323 shares in the last quarter. Institutional investors own 84.22% of the company's stock.

Wall Street Analysts Forecast Growth

IIIV has been the subject of several analyst reports. Morgan Stanley increased their price objective on i3 Verticals from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. DA Davidson raised 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. BMO Capital Markets increased their target price on shares of i3 Verticals from $22.00 to $26.00 and gave the company a "market perform" rating in a report on Monday, February 10th. Finally, KeyCorp boosted their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Two 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $29.86.

i3 Verticals Stock Down 1.7 %

i3 Verticals stock traded down $0.42 during trading on Monday, hitting $24.79. The stock had a trading volume of 62,571 shares, compared to its average volume of 227,857. The stock's 50 day moving average is $24.91 and its two-hundred day moving average is $24.51. i3 Verticals, Inc. has a 1 year low of $18.75 and a 1 year high of $29.80. The stock has a market cap of $819.90 million, a price-to-earnings ratio of 5.53 and a beta of 1.36.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.36%. As a group, equities research analysts anticipate that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

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.