Monashee Investment Management LLC Purchases New Position in i3 Verticals Inc (NASDAQ:IIIV)

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Monashee Investment Management LLC purchased a new stake in i3 Verticals Inc (NASDAQ:IIIV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 60,000 shares of the company’s stock, valued at approximately $1,767,000. Monashee Investment Management LLC owned approximately 0.23% of i3 Verticals as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in i3 Verticals by 50.7% during the 4th quarter. Bank of New York Mellon Corp now owns 27,261 shares of the company’s stock valued at $657,000 after buying an additional 9,172 shares in the last quarter. Northern Trust Corp grew its holdings in i3 Verticals by 0.8% during the 4th quarter. Northern Trust Corp now owns 97,259 shares of the company’s stock valued at $2,344,000 after buying an additional 794 shares in the last quarter. Geode Capital Management LLC grew its holdings in i3 Verticals by 62.3% during the 4th quarter. Geode Capital Management LLC now owns 79,656 shares of the company’s stock valued at $1,919,000 after buying an additional 30,587 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in i3 Verticals by 4,273.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,968 shares of the company’s stock valued at $47,000 after buying an additional 1,923 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in i3 Verticals by 291.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 54,100 shares of the company’s stock valued at $1,299,000 after buying an additional 40,274 shares in the last quarter. Hedge funds and other institutional investors own 39.65% of the company’s stock.

A number of research analysts have weighed in on the company. Bank of America assumed coverage on i3 Verticals in a report on Tuesday, August 13th. They set a “neutral” rating and a $23.00 target price for the company. KeyCorp lifted their target price on i3 Verticals from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Zacks Investment Research upgraded i3 Verticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th. BTIG Research set a $31.00 price target on i3 Verticals and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, ValuEngine downgraded i3 Verticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $26.33.

In other news, CEO Gregory S. Daily bought 84,800 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average price of $23.49 per share, for a total transaction of $1,991,952.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David K. Morgan bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $21.35 per share, with a total value of $42,700.00. The disclosure for this purchase can be found here. Company insiders own 56.20% of the company’s stock.

Shares of IIIV traded down $0.54 during trading hours on Tuesday, reaching $22.01. 3,120 shares of the company’s stock traded hands, compared to its average volume of 258,286. The stock has a market cap of $616.74 million, a PE ratio of 39.48, a price-to-earnings-growth ratio of 1.20 and a beta of 0.22. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.98. The firm’s 50 day simple moving average is $26.28 and its 200-day simple moving average is $24.77. i3 Verticals Inc has a 12 month low of $17.14 and a 12 month high of $31.44.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. The firm had revenue of $36.01 million during the quarter, compared to the consensus estimate of $35.02 million. i3 Verticals had a positive return on equity of 14.53% and a negative net margin of 0.36%. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. As a group, analysts expect that i3 Verticals Inc will post 0.69 earnings per share for the current fiscal year.

i3 Verticals Profile

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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Institutional Ownership by Quarter for i3 Verticals (NASDAQ:IIIV)

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