Long Path Partners LP Has $19.88 Million Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Long Path Partners LP raised its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 61.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 933,098 shares of the company's stock after acquiring an additional 355,392 shares during the quarter. i3 Verticals comprises 6.5% of Long Path Partners LP's investment portfolio, making the stock its 7th biggest holding. Long Path Partners LP owned about 2.76% of i3 Verticals worth $19,884,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of IIIV. Royce & Associates LP increased its stake in shares of i3 Verticals by 11.1% in the 3rd quarter. Royce & Associates LP now owns 488,840 shares of the company's stock valued at $10,417,000 after acquiring an additional 48,840 shares in the last quarter. Victory Capital Management Inc. increased its stake in i3 Verticals by 6.1% in the third quarter. Victory Capital Management Inc. now owns 48,500 shares of the company's stock valued at $1,034,000 after purchasing an additional 2,800 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of i3 Verticals during the third quarter valued at about $11,373,000. Argent Capital Management LLC boosted its position in shares of i3 Verticals by 15.0% during the 3rd quarter. Argent Capital Management LLC now owns 16,180 shares of the company's stock worth $345,000 after purchasing an additional 2,114 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of i3 Verticals in the 2nd quarter valued at about $292,000. 84.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IIIV has been the topic of several recent research reports. Stephens reiterated an "overweight" rating and issued a $29.00 price target on shares of i3 Verticals in a report on Tuesday, November 19th. BMO Capital Markets reduced their price target on shares of i3 Verticals from $23.00 to $21.00 and set a "market perform" rating for the company in a research report on Thursday, October 3rd. Benchmark restated a "buy" rating and set a $33.00 price target on shares of i3 Verticals in a research note on Tuesday, November 19th. DA Davidson reaffirmed a "buy" rating and issued a $32.00 price objective on shares of i3 Verticals in a research note on Monday, September 30th. Finally, Raymond James decreased their target price on shares of i3 Verticals from $31.00 to $28.00 and set a "strong-buy" rating for the company in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $27.14.

i3 Verticals Stock Up 1.2 %

NASDAQ:IIIV traded up $0.29 on Friday, hitting $23.67. The stock had a trading volume of 375,551 shares, compared to its average volume of 192,214. i3 Verticals, Inc. has a 1 year low of $17.54 and a 1 year high of $26.00. The firm's fifty day simple moving average is $23.00 and its two-hundred day simple moving average is $21.99. The stock has a market cap of $799.81 million, a P/E ratio of 5.32 and a beta of 1.53. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98.

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.