i3 Verticals (NASDAQ:IIIV) Rating Lowered to Hold at ValuEngine

i3 Verticals (NASDAQ:IIIV) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Other equities analysts have also issued reports about the company. BTIG Research reiterated a “buy” rating and issued a $31.00 price objective (up from $27.00) on shares of i3 Verticals in a research note on Monday, June 24th. Zacks Investment Research downgraded i3 Verticals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.60.

i3 Verticals stock opened at $27.56 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.61. The business has a 50-day simple moving average of $28.38. The company has a market capitalization of $684.69 million, a price-to-earnings ratio of 49.21, a PEG ratio of 1.85 and a beta of 0.22. i3 Verticals has a 52 week low of $14.50 and a 52 week high of $31.44.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings data on Monday, May 13th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). The business had revenue of $31.40 million during the quarter, compared to the consensus estimate of $29.79 million. i3 Verticals had a positive return on equity of 14.70% and a negative net margin of 0.19%. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, analysts predict that i3 Verticals will post 0.7 earnings per share for the current year.

In other news, CEO Gregory S. Daily bought 84,800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average cost of $23.49 per share, with a total value of $1,991,952.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Frederick Stanford sold 25,000 shares of i3 Verticals stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $23.47, for a total value of $586,750.00. The disclosure for this sale can be found here. 56.20% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in IIIV. TimesSquare Capital Management LLC acquired a new stake in i3 Verticals during the second quarter worth about $33,773,000. Southside Capital LLC acquired a new stake in i3 Verticals during the second quarter worth about $5,036,000. Confluence Investment Management LLC grew its position in i3 Verticals by 73.1% during the first quarter. Confluence Investment Management LLC now owns 264,770 shares of the company’s stock worth $6,359,000 after buying an additional 111,781 shares in the last quarter. BlackRock Inc. boosted its holdings in i3 Verticals by 18.7% during the fourth quarter. BlackRock Inc. now owns 692,845 shares of the company’s stock valued at $16,696,000 after purchasing an additional 109,385 shares in the last quarter. Finally, Wasatch Advisors Inc. boosted its holdings in i3 Verticals by 60.5% during the second quarter. Wasatch Advisors Inc. now owns 278,061 shares of the company’s stock valued at $8,189,000 after purchasing an additional 104,771 shares in the last quarter. 33.08% of the stock is currently owned by institutional investors and hedge funds.

About i3 Verticals

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support.

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