i3 Verticals, Inc. (NASDAQ:IIIV) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• i3 Verticals, Inc. has received a consensus recommendation of "Moderate Buy" from six brokerages, with an average twelve-month price objective of $34.33.
• Recent insider activity includes significant stock sales, with the CRO selling 1,890 shares and a director selling 6,882 shares, indicating a 4.20% and 63.97% decrease in their respective holdings.
• Institutional investors hold 84.22% of i3 Verticals stock, with notable transactions including NBC Securities increasing its holdings by 112,500% and various hedge funds acquiring new stakes.

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) has received an average rating of "Moderate Buy" from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $34.3333.

IIIV has been the subject of several research reports. 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. Morgan Stanley increased their price objective on i3 Verticals from $25.00 to $30.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Benchmark reissued a "buy" rating and set a $39.00 price objective (up from $33.00) on shares of i3 Verticals in a report on Monday, August 11th. Finally, Stephens increased their price objective on i3 Verticals from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, August 11th.

Insider Transactions at i3 Verticals

In other news, CRO Paul Christians sold 1,890 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $31.40, for a total value of $59,346.00. Following the completion of the transaction, the executive directly owned 43,110 shares of the company's stock, valued at $1,353,654. This trade represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy Mckenna sold 6,882 shares of i3 Verticals stock in a transaction 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 of the company's stock, valued at $123,295.56. This represents a 63.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,272 shares of company stock valued at $355,862 over the last three months. Company insiders own 59.07% of the company's stock.

Institutional Investors Weigh In On i3 Verticals

Large investors have recently added to or reduced their stakes in the business. Elevation Point Wealth Partners LLC bought a new stake in i3 Verticals during the second quarter valued at $26,000. NBC Securities Inc. boosted its stake in i3 Verticals by 112,500.0% during the first quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock valued at $27,000 after buying an additional 1,125 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in i3 Verticals by 2,744.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,048 shares of the company's stock valued at $51,000 after buying an additional 1,976 shares during the period. BNP Paribas Financial Markets raised its position in i3 Verticals by 65.5% during the second 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 position 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 valued at $61,000 after purchasing an additional 1,547 shares in the last quarter. Institutional investors own 84.22% of the company's stock.

i3 Verticals Trading Down 0.2%

Shares of IIIV traded down $0.07 on Monday, reaching $32.11. 73,883 shares of the company's stock traded hands, compared to its average volume of 285,913. The stock's 50 day simple moving average is $30.06 and its two-hundred day simple moving average is $26.91. i3 Verticals has a 52-week low of $20.42 and a 52-week high of $33.44. The stock has a market cap of $1.04 billion, a PE ratio of 6.15 and a beta of 1.30.

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.