AltraVue Capital LLC Purchases New Shares in i3 Verticals, Inc. (NASDAQ:IIIV)

AltraVue Capital LLC bought a new stake in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 911,146 shares of the company's stock, valued at approximately $20,993,000. i3 Verticals makes up about 1.7% of AltraVue Capital LLC's portfolio, making the stock its 22nd largest holding. AltraVue Capital LLC owned approximately 2.72% of i3 Verticals as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of i3 Verticals during the 4th quarter valued at $13,313,000. Legato Capital Management LLC purchased a new stake in i3 Verticals in the fourth quarter valued at about $4,233,000. New York State Common Retirement Fund raised its stake in i3 Verticals by 1,855.9% in the fourth quarter. New York State Common Retirement Fund now owns 175,833 shares of the company's stock valued at $4,051,000 after buying an additional 166,843 shares during the last quarter. Royce & Associates LP boosted its holdings in i3 Verticals by 10.7% in the fourth quarter. Royce & Associates LP now owns 541,350 shares of the company's stock worth $12,473,000 after acquiring an additional 52,510 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of i3 Verticals during the fourth quarter worth about $832,000. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Stock Performance

Shares of i3 Verticals stock traded down $1.03 during trading on Thursday, hitting $24.09. 199,607 shares of the company's stock were exchanged, compared to its average volume of 221,025. The stock has a market capitalization of $796.75 million, a price-to-earnings ratio of 5.37 and a beta of 1.52. The business has a 50-day simple moving average of $25.80 and a 200-day simple moving average of $24.18. i3 Verticals, Inc. has a 52-week low of $18.75 and a 52-week high of $29.80.

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i3 Verticals (NASDAQ:IIIV - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.05). i3 Verticals had a net margin of 41.85% and a return on equity of 3.36%. On average, equities analysts anticipate that i3 Verticals, Inc. will post 0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IIIV shares. Morgan Stanley increased their price objective on shares of i3 Verticals from $22.00 to $27.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. BMO Capital Markets lifted their price objective on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a "market perform" rating in a research note on Monday, February 10th. DA Davidson boosted their price objective on shares of i3 Verticals from $32.00 to $34.00 and gave the company a "buy" rating in a report on Monday, February 10th. Finally, KeyCorp raised their target price on i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Two research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.86.

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.