i3 Verticals (NASDAQ:IIIV) Lowered to "Strong Sell" Rating by Zacks Research

Key Points

• Zacks Research has downgraded i3 Verticals from a "hold" rating to a "strong sell" rating, reflecting negative sentiment among stock analysts.
• Despite the downgrade, several other analysts, including DA Davidson and Morgan Stanley, have raised their price targets for i3 Verticals, suggesting a mixture of outlooks in the market.
• Insider trading shows significant sales, with Director Timothy Mckenna reducing his position by 63.97%, indicating potential concerns about the company's future.

i3 Verticals (NASDAQ:IIIV - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on IIIV. DA Davidson lifted their price target on shares of i3 Verticals from $34.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Morgan Stanley lifted their price target on shares of i3 Verticals from $25.00 to $30.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Benchmark restated 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, Stephens lifted their price objective on i3 Verticals from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $34.33.

i3 Verticals Trading Up 1.2%

IIIV stock opened at $32.53 on Wednesday. The firm has a 50 day moving average of $30.75 and a 200-day moving average of $27.45. i3 Verticals has a 12-month low of $20.65 and a 12-month high of $33.44. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 6.23 and a beta of 1.28.

Insider Buying and Selling

In other i3 Verticals news, Director Timothy Mckenna sold 6,882 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $31.81, for a total value of $218,916.42. Following the completion of the transaction, the director directly owned 3,876 shares in the company, valued at approximately $123,295.56. The trade was a 63.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Paul Maple sold 2,500 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $31.04, for a total value of $77,600.00. Following the completion of the transaction, the general counsel owned 33,269 shares of the company's stock, valued at $1,032,669.76. This trade represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,272 shares of company stock worth $355,862 in the last ninety days. Insiders own 59.07% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Elevation Point Wealth Partners LLC acquired a new position in i3 Verticals in the 2nd quarter valued at $26,000. NBC Securities Inc. raised its holdings in i3 Verticals by 112,500.0% in the 1st quarter. NBC Securities Inc. now owns 1,126 shares of the company's stock valued at $27,000 after acquiring an additional 1,125 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 acquiring an additional 1,976 shares during the last quarter. BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 870 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in i3 Verticals by 229.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,220 shares of the company's stock valued at $61,000 after acquiring an additional 1,547 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.

i3 Verticals Company Profile

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.

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