Confluence Investment Management LLC acquired a new stake in i3 Verticals Inc (NASDAQ:IIIV) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 150,439 shares of the company’s stock, valued at approximately $3,457,000. Confluence Investment Management LLC owned about 0.57% of i3 Verticals at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in shares of i3 Verticals in the second quarter valued at $149,000. Raymond James & Associates acquired a new position in shares of i3 Verticals in the second quarter valued at $283,000. Columbia Partners L L C Investment Management acquired a new position in shares of i3 Verticals in the second quarter valued at $395,000. Mesirow Financial Investment Management Inc. increased its holdings in shares of i3 Verticals by 77.7% in the third quarter. Mesirow Financial Investment Management Inc. now owns 27,346 shares of the company’s stock valued at $628,000 after purchasing an additional 11,956 shares during the last quarter. Finally, Teton Advisors Inc. acquired a new position in shares of i3 Verticals in the second quarter valued at $469,000. Hedge funds and other institutional investors own 21.78% of the company’s stock.
In other i3 Verticals news, Director David K. Morgan bought 2,000 shares of i3 Verticals stock in a transaction dated Thursday, August 16th. The stock was bought at an average price of $15.66 per share, with a total value of $31,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
i3 Verticals (NASDAQ:IIIV) last announced its earnings results on Thursday, August 9th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. The business had revenue of $28.83 million during the quarter, compared to the consensus estimate of $28.41 million. i3 Verticals’s revenue was up 62.3% compared to the same quarter last year. As a group, research analysts anticipate that i3 Verticals Inc will post 0.56 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of i3 Verticals from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Monday, September 17th. KeyCorp boosted their target price on shares of i3 Verticals from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, October 15th. Cowen assumed coverage on shares of i3 Verticals in a research report on Monday, July 16th. They issued an “outperform” rating and a $20.00 target price for the company. Raymond James assumed coverage on shares of i3 Verticals in a research report on Monday, July 16th. They issued an “outperform” rating for the company. Finally, DA Davidson assumed coverage on shares of i3 Verticals in a research report on Wednesday. They issued a “buy” rating and a $26.00 target price for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $23.25.
i3 Verticals Profile
i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses (SMBs) 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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