i3 Verticals (NASDAQ:IIIV) Downgraded by BTIG Research

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

A number of other equities analysts have also commented on the stock. ValuEngine lowered shares of i3 Verticals from a buy rating to a hold rating in a report on Wednesday, November 6th. Zacks Investment Research lowered shares of i3 Verticals from a buy rating to a hold rating in a report on Tuesday, January 28th. Finally, TheStreet raised shares of i3 Verticals from a d+ rating to a c- rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $31.60.

i3 Verticals stock traded down $0.38 during midday trading on Tuesday, reaching $31.87. 167,073 shares of the stock were exchanged, compared to its average volume of 204,418. The company’s fifty day moving average is $31.51 and its 200-day moving average is $25.31. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $990.62 million, a PE ratio of -99.59, a PEG ratio of 1.83 and a beta of 0.53. i3 Verticals has a 52 week low of $18.65 and a 52 week high of $37.85.

i3 Verticals (NASDAQ:IIIV) last posted its earnings results on Monday, February 10th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The business had revenue of $41.10 million for the quarter, compared to analyst estimates of $39.05 million. i3 Verticals had a negative net margin of 1.01% and a positive return on equity of 14.15%. The business’s revenue for the quarter was down 51.6% compared to the same quarter last year. On average, sell-side analysts anticipate that i3 Verticals will post 0.81 earnings per share for the current fiscal year.

In other news, COO David Scott Meriwether sold 3,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $27.90, for a total value of $83,700.00. Following the transaction, the chief operating officer now owns 56 shares of the company’s stock, valued at approximately $1,562.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 40.10% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of IIIV. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of i3 Verticals in the 4th quarter worth $28,000. Marshall Wace LLP purchased a new stake in shares of i3 Verticals in the 1st quarter valued at $29,000. Tower Research Capital LLC TRC boosted its stake in shares of i3 Verticals by 135.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,967 shares of the company’s stock valued at $40,000 after purchasing an additional 1,130 shares in the last quarter. Citigroup Inc. boosted its stake in shares of i3 Verticals by 139.0% in the 4th quarter. Citigroup Inc. now owns 2,957 shares of the company’s stock valued at $84,000 after purchasing an additional 1,720 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY purchased a new stake in shares of i3 Verticals in the 3rd quarter valued at $103,000. 48.89% of the stock is currently owned by hedge funds and other institutional investors.

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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