Short Interest in i3 Verticals, Inc. (NASDAQ:IIIV) Decreases By 12.7%

i3 Verticals, Inc. (NASDAQ:IIIV - Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 846,600 shares, a decline of 12.7% from the March 15th total of 969,600 shares. Based on an average trading volume of 245,800 shares, the short-interest ratio is presently 3.4 days.

i3 Verticals Stock Performance

NASDAQ IIIV traded down $0.23 during trading on Tuesday, hitting $22.58. 146,245 shares of the company's stock traded hands, compared to its average volume of 236,653. The stock has a market capitalization of $753.49 million, a price-to-earnings ratio of -322.57 and a beta of 1.57. i3 Verticals has a 12-month low of $17.54 and a 12-month high of $25.70. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.50 and a current ratio of 0.50. The business has a 50 day moving average of $21.81 and a 200-day moving average of $20.64.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. i3 Verticals had a net margin of 0.14% and a return on equity of 9.28%. The firm had revenue of $91.99 million for the quarter, compared to the consensus estimate of $92.92 million. As a group, equities research analysts anticipate that i3 Verticals will post 0.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On i3 Verticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in shares of i3 Verticals by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 9,120 shares of the company's stock worth $208,000 after purchasing an additional 426 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of i3 Verticals by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 124,742 shares of the company's stock worth $2,641,000 after purchasing an additional 501 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of i3 Verticals by 4.2% in the fourth quarter. JPMorgan Chase & Co. now owns 13,010 shares of the company's stock worth $317,000 after purchasing an additional 530 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of i3 Verticals by 5.9% in the first quarter. Squarepoint Ops LLC now owns 12,507 shares of the company's stock worth $307,000 after purchasing an additional 702 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of i3 Verticals by 63.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company's stock worth $38,000 after purchasing an additional 703 shares during the last quarter. 84.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Benchmark reiterated a "buy" rating and set a $28.00 target price on shares of i3 Verticals in a research report on Monday, April 1st. BMO Capital Markets decreased their price target on shares of i3 Verticals from $24.00 to $23.00 and set a "market perform" rating for the company in a research note on Monday, February 12th. TheStreet upgraded shares of i3 Verticals from a "d+" rating to a "c-" rating in a research note on Monday, March 18th. Finally, Morgan Stanley reduced their price target on shares of i3 Verticals from $25.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $27.00.

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.