i3 Verticals, Inc. (NASDAQ:IIIV) Short Interest Up 11.1% in August

i3 Verticals, Inc. (NASDAQ:IIIV) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 818,100 shares, a growth of 11.1% from the August 15th total of 736,500 shares. Based on an average trading volume of 217,100 shares, the days-to-cover ratio is currently 3.8 days.

Wall Street Analysts Forecast Growth

IIIV has been the subject of several recent analyst reports. KeyCorp dropped their target price on i3 Verticals from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Stephens restated an “overweight” rating and set a $29.00 price objective on shares of i3 Verticals in a report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and issued a $33.00 price objective on shares of i3 Verticals in a research report on Tuesday, September 3rd. Finally, Raymond James decreased their target price on i3 Verticals from $31.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.83.

Institutional Investors Weigh In On i3 Verticals

Several large investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in shares of i3 Verticals in the 2nd quarter valued at $292,000. Dana Investment Advisors Inc. boosted its position in i3 Verticals by 22.0% during the second quarter. Dana Investment Advisors Inc. now owns 67,361 shares of the company’s stock valued at $1,487,000 after purchasing an additional 12,146 shares in the last quarter. Select Equity Group L.P. grew its stake in i3 Verticals by 1.8% in the second quarter. Select Equity Group L.P. now owns 65,730 shares of the company’s stock valued at $1,451,000 after purchasing an additional 1,147 shares during the last quarter. Shellback Capital LP raised its holdings in i3 Verticals by 39.6% in the second quarter. Shellback Capital LP now owns 181,652 shares of the company’s stock worth $4,011,000 after purchasing an additional 51,565 shares in the last quarter. Finally, Mason Capital Management LLC purchased a new stake in shares of i3 Verticals during the second quarter valued at about $7,443,000. Institutional investors own 84.22% of the company’s stock.

i3 Verticals Stock Performance

IIIV remained flat at $22.37 during trading on Wednesday. The company’s stock had a trading volume of 40,490 shares, compared to its average volume of 220,990. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a 50-day moving average price of $22.62 and a 200 day moving average price of $21.81. The firm has a market capitalization of $748.77 million, a price-to-earnings ratio of 2,232.00 and a beta of 1.55. i3 Verticals has a one year low of $17.54 and a one year high of $25.51.

i3 Verticals (NASDAQ:IIIV) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.31). i3 Verticals had a negative net margin of 0.01% and a positive return on equity of 5.99%. The firm had revenue of $56.04 million for the quarter, compared to analysts’ expectations of $96.43 million. As a group, equities analysts anticipate that i3 Verticals will post 0.19 earnings per share for the current fiscal year.

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.