i3 Verticals, Inc. (NASDAQ:IIIV) Short Interest Update

i3 Verticals, Inc. (NASDAQ:IIIV) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 873,800 shares, a drop of 15.2% from the October 15th total of 1,030,000 shares. Based on an average daily volume of 186,700 shares, the short-interest ratio is presently 4.7 days.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on IIIV shares. BMO Capital Markets decreased their target price on shares of i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, October 3rd. KeyCorp decreased their price objective on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Raymond James cut their target price on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research note on Monday, August 12th. DA Davidson reaffirmed a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a research note on Monday, September 30th. Finally, Stephens reissued an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.14.

Hedge Funds Weigh In On i3 Verticals

A number of hedge funds and other institutional investors have recently bought and sold shares of IIIV. Hood River Capital Management LLC grew its holdings in shares of i3 Verticals by 6.3% in the second quarter. Hood River Capital Management LLC now owns 1,190,184 shares of the company’s stock valued at $26,279,000 after purchasing an additional 70,253 shares in the last quarter. Long Path Partners LP grew its stake in shares of i3 Verticals by 61.5% in the third quarter. Long Path Partners LP now owns 933,098 shares of the company’s stock worth $19,884,000 after acquiring an additional 355,392 shares in the last quarter. Portolan Capital Management LLC increased its position in shares of i3 Verticals by 3.8% during the third quarter. Portolan Capital Management LLC now owns 653,072 shares of the company’s stock worth $13,917,000 after acquiring an additional 23,921 shares during the period. TimesSquare Capital Management LLC acquired a new stake in shares of i3 Verticals in the third quarter valued at $11,373,000. Finally, State Street Corp boosted its holdings in i3 Verticals by 0.5% in the third quarter. State Street Corp now owns 495,943 shares of the company’s stock valued at $10,569,000 after purchasing an additional 2,664 shares during the period. 84.22% of the stock is currently owned by hedge funds and other institutional investors.

i3 Verticals Trading Down 1.7 %

Shares of IIIV traded down $0.42 during midday trading on Monday, hitting $24.40. 199,276 shares of the stock were exchanged, compared to its average volume of 221,649. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $824.45 million, a P/E ratio of -271.11 and a beta of 1.53. i3 Verticals has a 52-week low of $17.54 and a 52-week high of $26.00. The stock has a fifty day simple moving average of $22.79 and a 200 day simple moving average of $21.94.

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.