ABS Direct Equity Fund LLC Invests $741,000 in i3 Verticals, Inc. (NASDAQ:IIIV)

ABS Direct Equity Fund LLC bought a new position in shares of i3 Verticals, Inc. (NASDAQ:IIIV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 35,000 shares of the company’s stock, valued at approximately $741,000. ABS Direct Equity Fund LLC owned about 0.10% of i3 Verticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new stake in shares of i3 Verticals in the 3rd quarter valued at $6,807,000. B. Riley Asset Management LLC bought a new position in shares of i3 Verticals in the 3rd quarter worth about $2,492,000. Cullen Investment Group LTD. acquired a new position in shares of i3 Verticals in the 4th quarter valued at about $1,878,000. Boston Partners bought a new stake in shares of i3 Verticals during the 3rd quarter valued at about $978,000. Finally, Heartland Advisors Inc. grew its stake in i3 Verticals by 4.9% during the third quarter. Heartland Advisors Inc. now owns 537,310 shares of the company’s stock worth $11,359,000 after purchasing an additional 25,160 shares during the period. 84.22% of the stock is owned by institutional investors and hedge funds.

i3 Verticals Stock Up 0.6 %

IIIV traded up $0.14 during midday trading on Friday, reaching $22.40. 125,013 shares of the company were exchanged, compared to its average volume of 170,700. The company has a market cap of $747.49 million, a price-to-earnings ratio of -320.00 and a beta of 1.56. i3 Verticals, Inc. has a one year low of $17.54 and a one year high of $25.70. The company’s fifty day moving average price is $22.49 and its 200 day moving average price is $20.88. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.50 and a current ratio of 0.50.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. i3 Verticals had a return on equity of 9.28% and a net margin of 0.14%. The business had revenue of $91.99 million during the quarter, compared to analyst estimates of $92.92 million. As a group, analysts expect that i3 Verticals, Inc. will post 0.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley cut their price target on i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. KeyCorp lifted their price target on shares of i3 Verticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Benchmark reissued a “buy” rating and set a $28.00 price objective on shares of i3 Verticals in a research report on Monday, April 1st. TheStreet raised i3 Verticals from a “d+” rating to a “c-” rating in a research report on Monday, March 18th. Finally, BMO Capital Markets cut their price target on i3 Verticals from $24.00 to $23.00 and set a “market perform” rating on the stock in a report on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, i3 Verticals currently has an average rating of “Moderate Buy” and a consensus target price of $27.43.

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.