i3 Verticals, Inc. (NASDAQ:IIIV) Sees Significant Growth in Short Interest

i3 Verticals, Inc. (NASDAQ:IIIV) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 920,300 shares, an increase of 16.7% from the May 31st total of 788,600 shares. Based on an average daily trading volume, of 199,500 shares, the days-to-cover ratio is currently 4.6 days.

Institutional Investors Weigh In On i3 Verticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Confluence Investment Management LLC raised its stake in i3 Verticals by 102.7% in the second quarter. Confluence Investment Management LLC now owns 306,540 shares of the company’s stock valued at $6,768,000 after purchasing an additional 155,338 shares in the last quarter. Comerica Bank raised its stake in i3 Verticals by 46.0% in the first quarter. Comerica Bank now owns 2,133 shares of the company’s stock valued at $49,000 after purchasing an additional 672 shares in the last quarter. Kennedy Capital Management LLC raised its stake in i3 Verticals by 13.3% in the first quarter. Kennedy Capital Management LLC now owns 170,957 shares of the company’s stock valued at $3,913,000 after purchasing an additional 20,088 shares in the last quarter. Hood River Capital Management LLC raised its stake in i3 Verticals by 43.1% in the first quarter. Hood River Capital Management LLC now owns 1,119,931 shares of the company’s stock valued at $25,635,000 after purchasing an additional 337,576 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in i3 Verticals in the first quarter valued at approximately $210,000. 84.22% of the stock is owned by hedge funds and other institutional investors.

i3 Verticals Price Performance

Shares of NASDAQ:IIIV opened at $22.46 on Wednesday. i3 Verticals has a twelve month low of $17.54 and a twelve month high of $25.70. The firm has a market capitalization of $751.74 million, a PE ratio of 2,248.25 and a beta of 1.58. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $20.49 and a two-hundred day moving average price of $20.96.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings results on Friday, May 10th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). i3 Verticals had a return on equity of 8.91% and a net margin of 0.63%. The firm had revenue of $94.54 million during the quarter, compared to analysts’ expectations of $96.27 million. Equities analysts forecast that i3 Verticals will post 0.91 EPS for the current year.

Wall Street Analysts Forecast Growth

IIIV has been the subject of several research reports. BMO Capital Markets reduced their price target on shares of i3 Verticals from $25.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday, May 13th. Benchmark restated a “buy” rating and set a $28.00 price target on shares of i3 Verticals in a research report on Monday, April 1st. Stephens increased their price target on shares of i3 Verticals from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. KeyCorp increased their target price on shares of i3 Verticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, TheStreet upgraded shares of i3 Verticals from a “d+” rating to a “c-” rating in a research report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.14.

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.