Allspring Global Investments Holdings LLC Raises Stock Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Posted by Defense World Staff on Nov 3rd, 2023

Allspring Global Investments Holdings LLC grew its holdings in i3 Verticals, Inc. (NASDAQ:IIIV – Free Report) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 254,277 shares of the company’s stock after acquiring an additional 16,859 shares during the period. Allspring Global Investments Holdings LLC owned about 0.76% of i3 Verticals worth $5,813,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Captrust Financial Advisors raised its stake in shares of i3 Verticals by 14,942.9% in the 2nd quarter. Captrust Financial Advisors now owns 1,053 shares of the company’s stock valued at $26,000 after acquiring an additional 1,046 shares during the period. Ensign Peak Advisors Inc purchased a new position in shares of i3 Verticals in the 3rd quarter valued at $44,000. Scissortail Wealth Management LLC acquired a new position in i3 Verticals in the 1st quarter worth $3,371,835,000. Steward Partners Investment Advisory LLC lifted its holdings in i3 Verticals by 32.7% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 4,236 shares of the company’s stock worth $104,000 after buying an additional 1,043 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new position in i3 Verticals in the 1st quarter worth $109,000. Hedge funds and other institutional investors own 64.19% of the company’s stock.

Insiders Place Their Bets

In other i3 Verticals news, Director Timothy Mckenna sold 2,687 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $22.27, for a total value of $59,839.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 33.20% of the stock is owned by insiders.

i3 Verticals Stock Performance

Shares of i3 Verticals stock opened at $19.50 on Friday. The firm has a market cap of $650.13 million, a PE ratio of -51.32, a price-to-earnings-growth ratio of 1.63 and a beta of 1.40. The firm’s 50-day simple moving average is $20.99 and its 200-day simple moving average is $22.57. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.00 and a current ratio of 1.00. i3 Verticals, Inc. has a 1 year low of $17.87 and a 1 year high of $30.83.

i3 Verticals (NASDAQ:IIIV – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. i3 Verticals had a negative net margin of 2.46% and a positive return on equity of 9.67%. The business had revenue of $93.93 million for the quarter, compared to analyst estimates of $94.19 million. Equities analysts forecast that i3 Verticals, Inc. will post 0.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IIIV has been the topic of a number of recent analyst reports. KeyCorp cut their price objective on shares of i3 Verticals from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 18th. Raymond James cut their price objective on shares of i3 Verticals from $34.00 to $33.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 10th. Finally, Berenberg Bank initiated coverage on shares of i3 Verticals in a report on Monday, July 10th. They issued a “buy” rating and a $30.00 price objective on the stock.

View Our Latest Stock Report on IIIV

i3 Verticals Company Profile

(Free Report)

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, and healthcare markets in the United States. It operates in two segments, Merchant Services, and Proprietary Software and Payments. The company offers payment processing services that enables clients to accept electronic payments, facilitating the exchange of funds and transaction data between clients, financial institutions, and payment networks.