Short Interest in i3 Verticals, Inc. (NASDAQ:IIIV) Declines By 15.2%

i3 Verticals, Inc. (NASDAQ:IIIV) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 873,800 shares, a decline of 15.2% from the October 15th total of 1,030,000 shares. Based on an average daily volume of 186,700 shares, the short-interest ratio is currently 4.7 days.

i3 Verticals Stock Performance

Shares of i3 Verticals stock traded down $0.42 on Monday, reaching $24.40. 199,276 shares of the stock were exchanged, compared to its average volume of 221,649. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $824.45 million, a PE ratio of -276.00 and a beta of 1.53. i3 Verticals has a 1-year low of $17.54 and a 1-year high of $26.00. The business has a fifty day moving average price of $22.79 and a two-hundred day moving average price of $21.94.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. BMO Capital Markets dropped their price target 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. Benchmark restated a “buy” rating and set a $33.00 target price on shares of i3 Verticals in a research report on Tuesday, September 3rd. Raymond James reduced their price target on shares of i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, August 12th. DA Davidson reissued a “buy” rating and set a $32.00 price objective on shares of i3 Verticals in a research report on Monday, September 30th. Finally, Stephens reaffirmed an “overweight” rating and issued a $29.00 target price on shares of i3 Verticals in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.14.

Hedge Funds Weigh In On i3 Verticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in IIIV. Comerica Bank lifted its holdings in shares of 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 period. Quantbot Technologies LP purchased a new position in i3 Verticals in the third quarter worth $109,000. SG Americas Securities LLC acquired a new stake in i3 Verticals in the second quarter valued at $116,000. EntryPoint Capital LLC acquired a new stake in i3 Verticals in the first quarter valued at $210,000. Finally, Atom Investors LP purchased a new stake in shares of i3 Verticals during the 3rd quarter worth $218,000. Institutional investors and hedge funds own 84.22% of the company’s stock.

About i3 Verticals

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.