Assenagon Asset Management S.A. Decreases Stock Holdings in i3 Verticals, Inc. (NASDAQ:IIIV)

Assenagon Asset Management S.A. lowered its position in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 15.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 360,825 shares of the company's stock after selling 68,240 shares during the period. Assenagon Asset Management S.A. owned about 1.08% of i3 Verticals worth $7,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IIIV. Long Path Partners LP purchased a new stake in i3 Verticals during the second quarter worth about $12,756,000. Hood River Capital Management LLC boosted its position in shares of i3 Verticals by 43.1% in the first quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company's stock valued at $25,635,000 after acquiring an additional 337,576 shares during the period. Mason Capital Management LLC bought a new position in shares of i3 Verticals in the second quarter valued at approximately $7,443,000. Confluence Investment Management LLC boosted its position in shares of i3 Verticals by 102.7% in the second quarter. Confluence Investment Management LLC now owns 306,540 shares of the company's stock valued at $6,768,000 after acquiring an additional 155,338 shares during the period. Finally, Heartland Advisors Inc. boosted its position in shares of i3 Verticals by 10.9% in the first quarter. Heartland Advisors Inc. now owns 599,800 shares of the company's stock valued at $13,729,000 after acquiring an additional 59,050 shares during the period. Hedge funds and other institutional investors own 84.22% of the company's stock.

i3 Verticals Price Performance

Shares of IIIV stock traded down $0.12 during trading hours on Tuesday, hitting $23.16. 98,388 shares of the company's stock were exchanged, compared to its average volume of 223,253. The company has a market capitalization of $775.21 million, a PE ratio of 2,316.00 and a beta of 1.54. i3 Verticals, Inc. has a 12-month low of $17.54 and a 12-month high of $25.51. The business's 50 day simple moving average is $22.09 and its 200-day simple moving average is $21.78. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.31). i3 Verticals had a positive return on equity of 5.99% and a negative net margin of 0.01%. The business had revenue of $56.04 million for the quarter, compared to analysts' expectations of $96.43 million. On average, equities research analysts anticipate that i3 Verticals, Inc. will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. KeyCorp dropped their target price on shares of i3 Verticals from $28.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, August 12th. BMO Capital Markets dropped their target price 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. Stephens reiterated an "overweight" rating and set a $29.00 target price on shares of i3 Verticals in a research report on Friday, August 16th. DA Davidson reiterated a "buy" rating and set a $32.00 target price on shares of i3 Verticals in a research report on Monday, September 30th. Finally, Benchmark reiterated a "buy" rating and set a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, September 3rd. Two equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.