i3 Verticals, Inc. $IIIV Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its stake in i3 Verticals, Inc. (NASDAQ:IIIV) by 19.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,590 shares of the company’s stock after selling 3,039 shares during the period. MetLife Investment Management LLC’s holdings in i3 Verticals were worth $311,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD acquired a new position in i3 Verticals during the 4th quarter worth approximately $210,000. Northern Trust Corp increased its position in i3 Verticals by 9.7% during the 4th quarter. Northern Trust Corp now owns 220,597 shares of the company’s stock worth $5,083,000 after purchasing an additional 19,568 shares during the period. Jane Street Group LLC increased its position in i3 Verticals by 27.9% during the 4th quarter. Jane Street Group LLC now owns 32,765 shares of the company’s stock worth $755,000 after purchasing an additional 7,140 shares during the period. Bank of America Corp DE increased its position in i3 Verticals by 30.8% during the 4th quarter. Bank of America Corp DE now owns 37,093 shares of the company’s stock worth $855,000 after purchasing an additional 8,736 shares during the period. Finally, Deutsche Bank AG increased its position in i3 Verticals by 42.5% during the 4th quarter. Deutsche Bank AG now owns 23,665 shares of the company’s stock worth $545,000 after purchasing an additional 7,063 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.

Insider Buying and Selling

In related news, CRO Paul Christians sold 1,890 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $31.40, for a total value of $59,346.00. Following the sale, the executive owned 43,110 shares of the company’s stock, valued at approximately $1,353,654. This represents a 4.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy Mckenna sold 6,882 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $31.81, for a total value of $218,916.42. Following the completion of the sale, the director directly owned 3,876 shares in the company, valued at approximately $123,295.56. The trade was a 63.97% decrease in their position. The disclosure for this sale can be found here. 59.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Benchmark reiterated a “buy” rating and set a $39.00 target price (up previously from $33.00) on shares of i3 Verticals in a research report on Monday, August 11th. Morgan Stanley boosted their target price on i3 Verticals from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. DA Davidson boosted their target price on i3 Verticals from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Finally, Stephens boosted their target price on i3 Verticals from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.33.

i3 Verticals Stock Performance

IIIV stock opened at $30.95 on Tuesday. i3 Verticals, Inc. has a 1 year low of $20.42 and a 1 year high of $33.44. The stock’s 50 day moving average price is $29.73 and its 200 day moving average price is $26.65. The firm has a market cap of $998.45 million, a P/E ratio of 5.93 and a beta of 1.30.

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.