Wesbanco Bank Inc. raised its holdings in i3 Verticals Inc (NASDAQ:IIIV) by 21.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,206 shares of the company’s stock after purchasing an additional 12,618 shares during the quarter. Wesbanco Bank Inc. owned 0.27% of i3 Verticals worth $1,716,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Legal & General Group Plc acquired a new stake in shares of i3 Verticals in the 3rd quarter valued at $27,000. Confluence Investment Management LLC boosted its holdings in shares of i3 Verticals by 1.7% in the 4th quarter. Confluence Investment Management LLC now owns 152,989 shares of the company’s stock valued at $3,687,000 after purchasing an additional 2,550 shares in the last quarter. American International Group Inc. acquired a new stake in shares of i3 Verticals in the 3rd quarter valued at $118,000. Rhumbline Advisers acquired a new stake in shares of i3 Verticals in the 4th quarter valued at $229,000. Finally, Teachers Advisors LLC acquired a new stake in shares of i3 Verticals in the 3rd quarter valued at $232,000. 25.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ IIIV traded up $0.04 during mid-day trading on Monday, hitting $24.80. 16,591 shares of the stock traded hands, compared to its average volume of 67,776. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.28. i3 Verticals Inc has a twelve month low of $13.79 and a twelve month high of $27.09. The company has a market cap of $651.71 million and a price-to-earnings ratio of 44.29.
IIIV has been the topic of a number of research analyst reports. Zacks Investment Research raised i3 Verticals from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, December 4th. Raymond James raised their target price on i3 Verticals from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 30th. BTIG Research assumed coverage on i3 Verticals in a report on Tuesday, December 11th. They set a “buy” rating and a $27.00 price objective on the stock. KeyCorp raised their price objective on i3 Verticals from $22.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, January 2nd. Finally, DA Davidson assumed coverage on i3 Verticals in a report on Wednesday, October 24th. They set a “buy” rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. i3 Verticals presently has an average rating of “Buy” and an average price target of $24.50.
COPYRIGHT VIOLATION NOTICE: “i3 Verticals Inc (IIIV) Shares Bought by Wesbanco Bank Inc.” was first posted by Dakota Financial News and is the sole property of of Dakota Financial News. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://dakotafinancialnews.com/2019/02/11/i3-verticals-inc-iiiv-shares-bought-by-wesbanco-bank-inc.html.
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.
Featured Story: The benefits and drawbacks of dollar cost averaging
Receive News & Ratings for i3 Verticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for i3 Verticals and related companies with MarketBeat.com's FREE daily email newsletter.