Insider Selling: i3 Verticals, Inc. (NASDAQ:IIIV) Director Sells 6,882 Shares of Stock

Key Points

• Timothy Mckenna, a director at i3 Verticals, Inc., sold 6,882 shares of the company’s stock at an average price of $31.81, which led to a 63.97% decrease in his holdings.
• i3 Verticals' stock experienced a 3.1% decline in value to $31.94, with recent trading volumes lower than the average.
• Several equities research analysts have raised their price targets for i3 Verticals, with a consensus rating of "Moderate Buy" and an average target price of $34.33.

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) Director Timothy Mckenna sold 6,882 shares of i3 Verticals stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $31.81, for a total transaction of $218,916.42. Following the completion of the transaction, the director owned 3,876 shares of the company's stock, valued at $123,295.56. This represents a 63.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

i3 Verticals Stock Up 1.3%

Shares of i3 Verticals stock traded up $0.40 during trading on Tuesday, reaching $31.72. The company's stock had a trading volume of 9,791 shares, compared to its average volume of 298,841. The business has a 50 day moving average price of $28.01 and a 200-day moving average price of $26.35. i3 Verticals, Inc. has a 12-month low of $20.42 and a 12-month high of $33.44. The company has a market capitalization of $1.02 billion, a P/E ratio of 6.08 and a beta of 1.32.

Analyst Ratings Changes

IIIV has been the topic of a number of analyst reports. Stephens restated an "overweight" rating and issued a $40.00 price objective (up from $35.00) on shares of i3 Verticals in a report on Monday, August 11th. Morgan Stanley raised their price target on i3 Verticals from $25.00 to $30.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. Benchmark reaffirmed a "buy" rating and set a $39.00 price objective (up from $33.00) on shares of i3 Verticals in a research report on Monday, August 11th. Finally, DA Davidson increased their price objective on i3 Verticals from $34.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, i3 Verticals currently has an average rating of "Moderate Buy" and a consensus target price of $34.33.

Hedge Funds Weigh In On i3 Verticals

Large investors have recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC acquired a new position in i3 Verticals during the second quarter worth about $26,000. NBC Securities Inc. grew its holdings in shares of i3 Verticals by 112,500.0% in 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. increased its stake in i3 Verticals by 2,744.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock valued at $51,000 after purchasing an additional 1,976 shares in the last quarter. BNP Paribas Financial Markets increased its stake in i3 Verticals by 65.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,198 shares of the company's stock valued at $60,000 after purchasing an additional 870 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in i3 Verticals by 229.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,220 shares of the company's stock worth $61,000 after purchasing an additional 1,547 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company's stock.

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.