i3 Verticals Inc (NASDAQ:IIIV) Short Interest Up 57.8% in September

i3 Verticals Inc (NASDAQ:IIIV) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 696,100 shares, a growth of 57.8% from the August 30th total of 441,000 shares. Based on an average daily volume of 205,100 shares, the short-interest ratio is currently 3.4 days. Approximately 4.9% of the company’s stock are sold short.

Several equities analysts have recently issued reports on the stock. ValuEngine lowered shares of i3 Verticals from a “buy” rating to a “hold” rating in a report on Thursday. BTIG Research set a $31.00 target price on shares of i3 Verticals and gave the company a “buy” rating in a report on Thursday, September 5th. KeyCorp lifted their target price on shares of i3 Verticals from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Bank of America upgraded shares of i3 Verticals from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, September 27th. Finally, Zacks Investment Research upgraded shares of i3 Verticals from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $26.33.

In other i3 Verticals news, Director David K. Morgan bought 2,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $21.35 per share, for a total transaction of $42,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 56.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TimesSquare Capital Management LLC purchased a new position in i3 Verticals in the 2nd quarter worth approximately $33,773,000. BlackRock Inc. raised its holdings in i3 Verticals by 3.4% in the 2nd quarter. BlackRock Inc. now owns 782,207 shares of the company’s stock worth $23,036,000 after acquiring an additional 25,588 shares during the last quarter. Vanguard Group Inc. raised its holdings in i3 Verticals by 56.9% in the 2nd quarter. Vanguard Group Inc. now owns 619,909 shares of the company’s stock worth $18,256,000 after acquiring an additional 224,833 shares during the last quarter. Royal Bank of Canada purchased a new position in i3 Verticals in the 2nd quarter worth approximately $9,841,000. Finally, Nicholas Company Inc. raised its holdings in i3 Verticals by 7.3% in the 2nd quarter. Nicholas Company Inc. now owns 297,560 shares of the company’s stock worth $8,763,000 after acquiring an additional 20,160 shares during the last quarter. Institutional investors own 44.51% of the company’s stock.

NASDAQ IIIV traded up $0.29 during mid-day trading on Friday, reaching $20.30. The stock had a trading volume of 143,885 shares, compared to its average volume of 187,774. i3 Verticals has a 1 year low of $17.14 and a 1 year high of $31.44. The stock has a market cap of $540.10 million, a PE ratio of 36.25, a price-to-earnings-growth ratio of 1.02 and a beta of 0.36. The company has a fifty day moving average price of $20.92 and a 200 day moving average price of $24.37. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.71 and a quick ratio of 0.71.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. i3 Verticals had a negative net margin of 0.36% and a positive return on equity of 14.53%. The company had revenue of $36.01 million during the quarter, compared to analyst estimates of $35.02 million. During the same period in the previous year, the business earned $0.14 EPS. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. As a group, equities research analysts expect that i3 Verticals will post 0.68 earnings per share for the current year.

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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