i3 Verticals (NASDAQ:IIIV) Trading Down 6.2% - Should You Sell?

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) traded down 6.2% on Friday . The company traded as low as $22.93 and last traded at $22.82. 81,217 shares changed hands during trading, a decline of 71% from the average session volume of 277,610 shares. The stock had previously closed at $24.32.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Benchmark reissued a "buy" rating and set a $33.00 target price on shares of i3 Verticals in a research note on Monday. Morgan Stanley lowered their target price on shares of i3 Verticals from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, i3 Verticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.57.

i3 Verticals Stock Performance

The business has a 50 day moving average of $25.10 and a two-hundred day moving average of $24.87. The firm has a market capitalization of $796.54 million, a price-to-earnings ratio of 5.34 and a beta of 1.22.

Insider Activity at i3 Verticals

In related news, Director David M. Wilds sold 218,400 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.81, for a total transaction of $5,418,504.00. Following the completion of the sale, the director now owns 260,657 shares in the company, valued at approximately $6,466,900.17. This represents a 45.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Burton Harvey sold 71,860 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.81, for a total value of $1,782,846.60. Following the completion of the sale, the director now directly owns 11,285 shares of the company's stock, valued at $279,980.85. The trade was a 86.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 377,261 shares of company stock valued at $9,374,552. 59.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On i3 Verticals

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of i3 Verticals by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 1,325,690 shares of the company's stock worth $30,544,000 after buying an additional 19,342 shares in the last quarter. Long Path Partners LP raised its stake in i3 Verticals by 1.9% in the first quarter. Long Path Partners LP now owns 997,996 shares of the company's stock valued at $24,621,000 after purchasing an additional 18,219 shares in the last quarter. AltraVue Capital LLC bought a new stake in shares of i3 Verticals during the 4th quarter worth $20,993,000. Forager Capital Management LLC purchased a new position in shares of i3 Verticals in the 4th quarter worth about $17,626,000. Finally, Portolan Capital Management LLC lifted its holdings in shares of i3 Verticals by 3.5% in the 4th quarter. Portolan Capital Management LLC now owns 676,135 shares of the company's stock worth $15,578,000 after acquiring an additional 23,063 shares during the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

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.