i3 Verticals, Inc. (NASDAQ:IIIV) Holdings Cut by 272 Capital LP

272 Capital LP lowered its stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 58.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,706 shares of the company's stock after selling 149,315 shares during the period. i3 Verticals makes up 2.5% of 272 Capital LP's holdings, making the stock its 10th biggest holding. 272 Capital LP owned 0.32% of i3 Verticals worth $2,274,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Comerica Bank lifted its stake in i3 Verticals by 46.0% in the 1st quarter. Comerica Bank now owns 2,133 shares of the company's stock valued at $49,000 after purchasing an additional 672 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of i3 Verticals in the 3rd quarter valued at $109,000. SG Americas Securities LLC acquired a new stake in shares of i3 Verticals during the 2nd quarter valued at $116,000. Sanctuary Advisors LLC acquired a new stake in shares of i3 Verticals during the 2nd quarter valued at $292,000. Finally, Argent Capital Management LLC grew its position in i3 Verticals by 60.7% during the 2nd quarter. Argent Capital Management LLC now owns 14,066 shares of the company's stock worth $311,000 after acquiring an additional 5,311 shares during the last quarter. Institutional investors and hedge funds own 84.22% of the company's stock.

i3 Verticals Price Performance

Shares of i3 Verticals stock traded down $0.06 during trading hours on Friday, reaching $24.80. The company had a trading volume of 144,976 shares, compared to its average volume of 235,503. i3 Verticals, Inc. has a one year low of $17.54 and a one year high of $26.66. The firm has a market cap of $831.79 million, a PE ratio of 5.57 and a beta of 1.53. The business has a fifty day simple moving average of $23.22 and a 200 day simple moving average of $22.11.

Insider Transactions at i3 Verticals

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total value of $444,346.56. Following the completion of the transaction, the president now owns 100,000 shares of the company's stock, valued at $2,528,000. The trade was a 14.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 34.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IIIV shares. Raymond James dropped their price objective on shares of i3 Verticals from $31.00 to $28.00 and set a "strong-buy" rating for the company in a report on Monday, August 12th. Benchmark reaffirmed a "buy" rating and set a $33.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. KeyCorp cut their price target on shares of i3 Verticals from $28.00 to $27.00 and set an "overweight" rating on the stock in a report on Monday, August 12th. Stephens restated an "overweight" rating and issued a $29.00 price objective on shares of i3 Verticals in a report on Tuesday, November 19th. Finally, DA Davidson reaffirmed a "buy" rating and set a $32.00 target price on shares of i3 Verticals in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, i3 Verticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.14.

i3 Verticals 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.