i3 Verticals, Inc. (NASDAQ:IIIV) Given Consensus Recommendation of "Moderate Buy" by 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.

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

Several equities analysts have commented on the stock. Morgan Stanley raised their target price on shares of i3 Verticals from $25.00 to $30.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. DA Davidson raised their target price on shares of i3 Verticals from $34.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Benchmark reissued a "buy" rating and issued a $39.00 target price (up from $33.00) on shares of i3 Verticals in a report on Monday, August 11th. Finally, Stephens raised their target price on shares of i3 Verticals from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, August 11th.

Insider Activity at i3 Verticals

In related news, CRO Paul Christians sold 1,890 shares of i3 Verticals stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $31.40, for a total transaction of $59,346.00. Following the sale, the executive directly owned 43,110 shares of the company's stock, valued at approximately $1,353,654. The trade was a 4.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy Mckenna sold 6,882 shares of i3 Verticals stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $31.81, for a total transaction of $218,916.42. Following the sale, the director directly owned 3,876 shares in the company, valued at $123,295.56. This trade represents a 63.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,272 shares of company stock valued at $355,862. 59.07% of the stock is owned by insiders.

Institutional Investors Weigh In On i3 Verticals

Several hedge funds and other institutional investors have recently made changes to their positions in IIIV. Elevation Point Wealth Partners LLC bought a new stake in shares of i3 Verticals during the 2nd quarter valued at approximately $26,000. NBC Securities Inc. grew its holdings in shares of i3 Verticals by 112,500.0% during the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock valued at $27,000 after purchasing an additional 1,125 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of i3 Verticals by 2,744.4% during 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 during the last quarter. BNP Paribas Financial Markets boosted its position in i3 Verticals by 65.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,198 shares of the company's stock worth $60,000 after buying an additional 870 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in i3 Verticals by 229.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,220 shares of the company's stock worth $61,000 after buying an additional 1,547 shares during the period. 84.22% of the stock is owned by institutional investors.

i3 Verticals Stock Down 2.7%

IIIV stock opened at $30.31 on Monday. i3 Verticals has a 12 month low of $20.42 and a 12 month high of $33.44. The firm has a market cap of $977.80 million, a P/E ratio of 5.81 and a beta of 1.30. The company's 50-day moving average price is $29.90 and its two-hundred day moving average price is $26.78.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.