i3 Verticals Inc (NASDAQ:IIIV) Sees Significant Decrease in Short Interest

i3 Verticals Inc (NASDAQ:IIIV) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 613,100 shares, a decline of 9.5% from the September 30th total of 677,800 shares. Currently, 4.3% of the company’s shares are short sold. Based on an average trading volume of 184,200 shares, the short-interest ratio is currently 3.3 days.

Several research analysts have weighed in on IIIV shares. KeyCorp lifted their target price on i3 Verticals from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Zacks Investment Research upgraded shares of i3 Verticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. ValuEngine cut shares of i3 Verticals from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Bank of America upgraded shares of i3 Verticals from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Friday, September 27th. Finally, BTIG Research set a $31.00 target price on i3 Verticals and gave the stock a “buy” rating in a research note on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $26.40.

IIIV stock traded down $0.31 during midday trading on Friday, reaching $22.08. 102,400 shares of the company were exchanged, compared to its average volume of 107,341. The stock’s 50-day simple moving average is $20.24 and its 200 day simple moving average is $23.82. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.71 and a current ratio of 0.71. i3 Verticals has a 1-year low of $17.14 and a 1-year high of $31.44. The company has a market cap of $612.30 million, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 1.15 and a beta of 0.36.

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new stake in i3 Verticals in the second quarter worth approximately $25,000. Marshall Wace LLP purchased a new position in shares of i3 Verticals during the 1st quarter worth about $29,000. Tower Research Capital LLC TRC boosted its stake in shares of i3 Verticals by 135.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,967 shares of the company’s stock worth $40,000 after purchasing an additional 1,130 shares during the period. GSA Capital Partners LLP purchased a new position in shares of i3 Verticals during the 2nd quarter worth about $216,000. Finally, Cahaba Wealth Management Inc. purchased a new position in shares of i3 Verticals during the 3rd quarter worth about $217,000. 44.85% of the stock is currently owned by institutional investors and hedge funds.

i3 Verticals Company 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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