i3 Verticals (NASDAQ:IIIV) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research lowered shares of i3 Verticals (NASDAQ:IIIV) from a hold rating to a strong sell rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “i3 Verticals, Inc. provides payment and software solutions. The Company offers electronic payment services to education, non-profit, public sector, property management and health care industries. i3 Verticals, Inc. is based in TN, United States. “

IIIV opened at $24.44 on Tuesday. The stock has a market cap of $614.99 million and a P/E ratio of 43.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.58 and a quick ratio of 0.58. i3 Verticals has a fifty-two week low of $13.79 and a fifty-two week high of $27.88.

i3 Verticals (NASDAQ:IIIV) last posted its quarterly earnings results on Monday, May 13th. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.09). The company had revenue of $31.40 million for the quarter, compared to the consensus estimate of $29.79 million. i3 Verticals had a negative net margin of 0.19% and a positive return on equity of 14.70%. i3 Verticals’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. Analysts predict that i3 Verticals will post 0.7 earnings per share for the current year.

In related news, CEO Gregory S. Daily purchased 84,800 shares of i3 Verticals stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average price of $23.49 per share, for a total transaction of $1,991,952.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Frederick Stanford sold 25,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $23.47, for a total transaction of $586,750.00. The disclosure for this sale can be found here. 56.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of IIIV. Legal & General Group Plc bought a new position in i3 Verticals during the third quarter worth about $27,000. Marshall Wace LLP bought a new position in i3 Verticals during the first quarter worth about $29,000. BNP Paribas Arbitrage SA boosted its position in i3 Verticals by 4,273.3% during the first quarter. BNP Paribas Arbitrage SA now owns 1,968 shares of the company’s stock worth $47,000 after purchasing an additional 1,923 shares during the period. Citigroup Inc. boosted its position in i3 Verticals by 35.2% during the first quarter. Citigroup Inc. now owns 2,499 shares of the company’s stock worth $60,000 after purchasing an additional 650 shares during the period. Finally, American International Group Inc. boosted its position in i3 Verticals by 14.8% during the first quarter. American International Group Inc. now owns 5,836 shares of the company’s stock worth $140,000 after purchasing an additional 754 shares during the period. Institutional investors own 32.94% of the company’s stock.

i3 Verticals Company Profile

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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