i3 Verticals, Inc. (NASDAQ:IIIV) Short Interest Down 8.3% in November

i3 Verticals, Inc. (NASDAQ:IIIV) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 841,200 shares, a decline of 8.3% from the November 15th total of 917,700 shares. Based on an average daily trading volume, of 218,500 shares, the short-interest ratio is presently 3.8 days.

i3 Verticals Trading Up 0.0 %

IIIV stock opened at $22.46 on Tuesday. i3 Verticals has a 1-year low of $17.54 and a 1-year high of $26.66. The business’s 50-day moving average price is $23.70 and its two-hundred day moving average price is $22.46. The firm has a market cap of $753.31 million, a PE ratio of 5.05 and a beta of 1.49.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IIIV shares. Benchmark reaffirmed a “buy” rating and issued a $33.00 target price on shares of i3 Verticals in a report on Tuesday, November 19th. BMO Capital Markets reduced their price objective on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, October 3rd. DA Davidson reissued a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a report on Monday, September 30th. Finally, Stephens reaffirmed an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a report on Tuesday, November 19th. Two 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.14.

Insiders Place Their Bets

In related news, President Frederick Stanford sold 17,577 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $25.28, for a total transaction of $444,346.56. Following the completion of the transaction, the president now owns 100,000 shares in the company, valued at $2,528,000. This trade represents a 14.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 34.00% of the company’s stock.

Institutional Trading of i3 Verticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank raised its position in i3 Verticals by 46.0% in the 1st quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after buying an additional 672 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of i3 Verticals in the third quarter worth $109,000. SG Americas Securities LLC acquired a new position in i3 Verticals during the second quarter worth $116,000. Atom Investors LP bought a new position in i3 Verticals in the third quarter valued at $218,000. Finally, Sanctuary Advisors LLC bought a new position in i3 Verticals in the second quarter valued at $292,000. Institutional investors and hedge funds own 84.22% of the company’s stock.

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.