i3 Verticals (NASDAQ:IIIV) Lowered to “Neutral” at BTIG Research

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BTIG Research downgraded shares of i3 Verticals (NASDAQ:IIIV) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, Benzinga reports. BTIG Research currently has $36.00 price objective on the stock.

IIIV has been the subject of several other reports. Zacks Investment Research downgraded shares of i3 Verticals from a buy rating to a hold rating in a research note on Tuesday, January 28th. TheStreet upgraded shares of i3 Verticals from a d+ rating to a c- rating in a research report on Friday, February 7th. Finally, ValuEngine downgraded shares of i3 Verticals from a buy rating to a hold rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $31.60.

Shares of NASDAQ:IIIV opened at $31.87 on Tuesday. i3 Verticals has a 52-week low of $18.65 and a 52-week high of $37.85. The company has a market capitalization of $885.04 million, a P/E ratio of 64.50, a price-to-earnings-growth ratio of 1.75 and a beta of 0.53. The company has a 50-day simple moving average of $31.58 and a 200 day simple moving average of $25.32. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.58 and a current ratio of 0.55.

i3 Verticals (NASDAQ:IIIV) last issued its earnings results on Monday, February 10th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. i3 Verticals had a negative net margin of 1.01% and a positive return on equity of 13.75%. The business had revenue of $41.10 million during the quarter, compared to the consensus estimate of $39.05 million. The firm’s revenue for the quarter was down 51.6% compared to the same quarter last year. As a group, equities analysts forecast that i3 Verticals will post 0.75 earnings per share for the current year.

In other i3 Verticals news, COO David Scott Meriwether sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $27.90, for a total transaction of $83,700.00. Following the completion of the sale, the chief operating officer now directly owns 56 shares in the company, valued at $1,562.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 40.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. TimesSquare Capital Management LLC lifted its position in i3 Verticals by 9.6% during the third quarter. TimesSquare Capital Management LLC now owns 1,257,100 shares of the company’s stock worth $25,293,000 after acquiring an additional 110,300 shares during the last quarter. BlackRock Inc. raised its position in shares of i3 Verticals by 3.4% in the second quarter. BlackRock Inc. now owns 782,207 shares of the company’s stock valued at $23,036,000 after buying an additional 25,588 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of i3 Verticals by 7.3% in the fourth quarter. Driehaus Capital Management LLC now owns 638,898 shares of the company’s stock valued at $18,049,000 after buying an additional 43,303 shares in the last quarter. Vanguard Group Inc. raised its position in shares of i3 Verticals by 56.9% in the second quarter. Vanguard Group Inc. now owns 619,909 shares of the company’s stock valued at $18,256,000 after buying an additional 224,833 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of i3 Verticals by 198.4% in the fourth quarter. Russell Investments Group Ltd. now owns 438,772 shares of the company’s stock valued at $12,394,000 after buying an additional 291,741 shares in the last quarter. Hedge funds and other institutional investors own 48.89% of the company’s stock.

About i3 Verticals

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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