ABS Direct Equity Fund LLC Makes New $741,000 Investment in i3 Verticals, Inc. (NASDAQ:IIIV)

ABS Direct Equity Fund LLC acquired a new stake in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 35,000 shares of the company's stock, valued at approximately $741,000. ABS Direct Equity Fund LLC owned about 0.10% of i3 Verticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its position in shares of i3 Verticals by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 43,000 shares of the company's stock valued at $910,000 after acquiring an additional 1,025 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in i3 Verticals by 36.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,992 shares of the company's stock valued at $106,000 after purchasing an additional 1,345 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in i3 Verticals by 1.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 86,372 shares of the company's stock worth $1,826,000 after buying an additional 1,538 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of i3 Verticals by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 114,906 shares of the company's stock worth $2,429,000 after buying an additional 1,749 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of i3 Verticals by 31.0% in the fourth quarter. SG Americas Securities LLC now owns 7,762 shares of the company's stock worth $164,000 after buying an additional 1,836 shares during the period. Institutional investors own 84.22% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IIIV shares. KeyCorp lifted their target price on shares of i3 Verticals from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, April 22nd. TheStreet raised i3 Verticals from a "d+" rating to a "c-" rating in a report on Monday, March 18th. Benchmark reaffirmed a "buy" rating and set a $28.00 price objective on shares of i3 Verticals in a report on Monday, April 1st. BMO Capital Markets lowered their target price on shares of i3 Verticals from $24.00 to $23.00 and set a "market perform" rating on the stock in a report on Monday, February 12th. Finally, Morgan Stanley cut their target price on shares of i3 Verticals from $25.00 to $20.00 and set an "equal weight" rating for the company in a research note on Monday, February 12th. Two investment 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 stock. According to data from MarketBeat, i3 Verticals presently has an average rating of "Moderate Buy" and a consensus price target of $27.43.

i3 Verticals Trading Up 0.6 %

NASDAQ IIIV traded up $0.14 during trading on Friday, hitting $22.40. The stock had a trading volume of 125,013 shares, compared to its average volume of 170,700. The stock has a market capitalization of $747.49 million, a price-to-earnings ratio of -320.00 and a beta of 1.56. The stock has a 50 day simple moving average of $22.49 and a 200 day simple moving average of $20.88. i3 Verticals, Inc. has a one year low of $17.54 and a one year 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.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. i3 Verticals had a return on equity of 9.28% and a net margin of 0.14%. The company had revenue of $91.99 million during the quarter, compared to analysts' expectations of $92.92 million. Sell-side analysts predict that i3 Verticals, Inc. will post 0.95 earnings per share for the current year.

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.