i3 Verticals, Inc. (NASDAQ:IIIV) Receives Average Rating of “Buy” from Brokerages

i3 Verticals, Inc. (NASDAQ:IIIVGet Rating) has received an average recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $31.50.

Several brokerages have recently weighed in on IIIV. TheStreet raised i3 Verticals from a “d+” rating to a “c-” rating in a research report on Wednesday, March 16th. Stephens began coverage on shares of i3 Verticals in a research report on Thursday, June 9th. They issued an “overweight” rating and a $30.00 price objective for the company.

In related news, CTO Robert Bertke sold 2,324 shares of the stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $24.72, for a total value of $57,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 30.36% of the company’s stock.

A number of hedge funds have recently made changes to their positions in IIIV. EverSource Wealth Advisors LLC acquired a new stake in shares of i3 Verticals in the 4th quarter valued at about $11,994,000. G2 Investment Partners Management LLC grew its position in shares of i3 Verticals by 527.0% in the 1st quarter. G2 Investment Partners Management LLC now owns 376,171 shares of the company’s stock worth $10,480,000 after acquiring an additional 316,171 shares in the last quarter. Millennium Management LLC increased its holdings in shares of i3 Verticals by 41.1% in the 4th quarter. Millennium Management LLC now owns 1,082,775 shares of the company’s stock valued at $24,676,000 after acquiring an additional 315,358 shares during the last quarter. Wellington Management Group LLP raised its position in shares of i3 Verticals by 27.6% during the 1st quarter. Wellington Management Group LLP now owns 1,349,231 shares of the company’s stock valued at $37,591,000 after acquiring an additional 291,836 shares in the last quarter. Finally, Full18 Capital LLC lifted its stake in i3 Verticals by 288.7% during the first quarter. Full18 Capital LLC now owns 392,153 shares of the company’s stock worth $10,002,000 after purchasing an additional 291,271 shares during the last quarter. 65.21% of the stock is owned by institutional investors.

Shares of IIIV stock opened at $22.54 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.00. i3 Verticals has a fifty-two week low of $17.80 and a fifty-two week high of $32.97. The firm’s 50 day moving average price is $24.99 and its two-hundred day moving average price is $24.41. The stock has a market cap of $727.64 million, a price-to-earnings ratio of -35.22, a price-to-earnings-growth ratio of 2.38 and a beta of 1.42.

i3 Verticals (NASDAQ:IIIVGet Rating) last issued its earnings results on Monday, May 9th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.26. i3 Verticals had a negative net margin of 4.87% and a positive return on equity of 8.01%. During the same period in the prior year, the firm posted $0.14 EPS. On average, equities analysts forecast that i3 Verticals will post 0.55 EPS for the current fiscal year.

About i3 Verticals (Get Rating)

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, and healthcare markets in the United States. It operates in two segments, Merchant Services, and Proprietary Software and Payments. The company offers payment processing services that enables clients to accept electronic payments, facilitating the exchange of funds and transaction data between clients, financial institutions, and payment networks.

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Analyst Recommendations for i3 Verticals (NASDAQ:IIIV)

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