Kornitzer Capital Management Inc. KS Trims Stock Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Kornitzer Capital Management Inc. KS lessened its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 46.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 42,600 shares of the company’s stock after selling 36,800 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in i3 Verticals were worth $902,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IIIV. Raymond James & Associates grew its position in i3 Verticals by 67.9% during the first quarter. Raymond James & Associates now owns 121,099 shares of the company’s stock valued at $3,374,000 after buying an additional 48,980 shares during the period. MetLife Investment Management LLC grew its position in i3 Verticals by 56.3% during the first quarter. MetLife Investment Management LLC now owns 11,069 shares of the company’s stock valued at $308,000 after buying an additional 3,987 shares during the period. Rhumbline Advisers grew its position in i3 Verticals by 12.7% during the first quarter. Rhumbline Advisers now owns 20,658 shares of the company’s stock valued at $576,000 after buying an additional 2,325 shares during the period. Dimensional Fund Advisors LP grew its position in i3 Verticals by 28.0% during the first quarter. Dimensional Fund Advisors LP now owns 261,186 shares of the company’s stock valued at $7,277,000 after buying an additional 57,078 shares during the period. Finally, Sei Investments Co. grew its position in i3 Verticals by 10.7% during the first quarter. Sei Investments Co. now owns 15,397 shares of the company’s stock valued at $466,000 after buying an additional 1,492 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Stock Down 0.6 %

Shares of IIIV stock opened at $22.33 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.85. The firm’s 50-day moving average is $22.04 and its two-hundred day moving average is $20.70. i3 Verticals, Inc. has a 12 month low of $17.54 and a 12 month high of $25.70.

i3 Verticals (NASDAQ:IIIV) last issued its earnings results on Thursday, February 8th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. i3 Verticals had a net margin of 0.14% and a return on equity of 9.28%. The company had revenue of $91.99 million for the quarter, compared to the consensus estimate of $92.92 million. Equities research analysts anticipate that i3 Verticals, Inc. will post 0.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IIIV. Morgan Stanley dropped their target price on shares of i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. BMO Capital Markets decreased their price target on shares of i3 Verticals from $24.00 to $23.00 and set a “market perform” rating on the stock in a research note on Monday, February 12th. Benchmark reissued a “buy” rating and issued a $28.00 price target on shares of i3 Verticals in a research note on Monday, April 1st. Finally, TheStreet raised shares of i3 Verticals from a “d+” rating to a “c-” rating in a research note on Monday, March 18th. 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. According to MarketBeat.com, i3 Verticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

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.