i3 Verticals, Inc. (NASDAQ:IIIV) Short Interest Up 5.0% in November

i3 Verticals, Inc. (NASDAQ:IIIV) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 917,700 shares, a growth of 5.0% from the October 31st total of 873,800 shares. Based on an average daily volume of 200,500 shares, the days-to-cover ratio is currently 4.6 days.

i3 Verticals Stock Up 0.9 %

NASDAQ:IIIV opened at $25.03 on Tuesday. The firm has a market capitalization of $839.51 million, a PE ratio of 5.62 and a beta of 1.49. i3 Verticals has a 12-month low of $17.54 and a 12-month high of $26.66. The firm has a 50-day moving average price of $23.22 and a 200 day moving average price of $22.13.

Analysts Set New Price Targets

IIIV has been the subject of several research analyst reports. BMO Capital Markets cut their price objective on i3 Verticals from $23.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, October 3rd. Benchmark reissued a “buy” rating and issued a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, November 19th. Stephens reiterated an “overweight” rating and set a $29.00 target price on shares of i3 Verticals in a research note on Tuesday, November 19th. DA Davidson restated a “buy” rating and issued a $32.00 price target on shares of i3 Verticals in a research report on Monday, September 30th. Finally, Raymond James cut their price objective 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. Two 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.14.

Insiders Place Their Bets

In other i3 Verticals news, President Frederick Stanford sold 17,577 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $25.28, for a total transaction of $444,346.56. Following the completion of the transaction, the president now owns 100,000 shares of the company’s stock, valued at $2,528,000. The trade was a 14.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 34.00% of the company’s stock.

Institutional Trading of i3 Verticals

Institutional investors have recently bought and sold shares of the stock. Comerica Bank grew 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 worth $49,000 after purchasing an additional 672 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of i3 Verticals during the third quarter worth approximately $109,000. SG Americas Securities LLC acquired a new position in shares of i3 Verticals in the 2nd quarter worth approximately $116,000. Atom Investors LP bought a new stake in i3 Verticals during the 3rd quarter worth approximately $218,000. Finally, Sanctuary Advisors LLC acquired a new stake in i3 Verticals during the 2nd quarter valued at $292,000. Institutional investors and hedge funds own 84.22% of the company’s stock.

i3 Verticals Company Profile

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.