Geneva Capital Management LLC recently announced the acquisition of new stake in i3 Verticals Inc. (NASDAQ:IIIV). The institutional investor has increased its shareholding in the Technology company by 3.79% to 1.88 million shares with purchase of 68539.0 shares. This fresh investment now brings its stake to 8.17% valued currently at $45.72 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.14 million to 1.24 million shares. And Millennium Management LLC has lifted its position by 59.57% or 0.38 million shares – to 1.01 million shares.
With over 0.13 million i3 Verticals Inc. (IIIV) shares trading Monday and a closing price of $29.49 on the day, the dollar volume was approximately $3.73 million. The shares have shown a positive half year performance of 12.09% and its price on 01/23/23 gained nearly 1.76%. Currently, there are 33.12M common shares owned by the public and among those 22.76M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for IIIV have a consensus price objective of $32.33. The analysts have set the share’s price value over the next 12 months at a high of $36.00 and a low of $26.00. The average price target is 4.87% above its recent price level and a downside to the estimated low will see the stock lose -13.42% over that period. But an upside of 18.08% will see the stock hit the forecast high price target while median target price for the stock is $33.00.
Insiders at the company have transacted a total of 6 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 15,500 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 7,500 shares.
The top 3 mutual fund holders in i3 Verticals Inc. are Vanguard Total Stock Market Index, Nationwide Geneva Small Cap Growt, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 0.71 million shares of the company’s stock, all valued at over $17.21 million. The company bought an additional 0.12 million shares recently to bring their total holdings to about 3.07% of the shares outstanding. iShares Russell 2000 ETF sold 5185.0 shares to bring its total holdings to over 0.49 million shares at a value of $12.04 million. iShares Russell 2000 ETF now owns shares totaling to 2.15% of the shares outstanding.
Shares of i3 Verticals Inc. (NASDAQ: IIIV) opened at $28.90, down -$0.08 from a prior closing price of $28.98. However, the script later moved the day high at 29.65, up 1.76%. The company’s stock has a 5-day price change of 6.12% and 48.34% over the past three months. IIIV shares are trading 21.16% year to date (YTD), with the 12-month market performance up to 35.46% higher. It has a 12-month low price of $18.59 and touched a high of $30.26 over the same period. IIIV has an average intraday trading volume of 145.79K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.62%, 19.29%, and 21.79% respectively.
Institutional ownership of i3 Verticals Inc. (NASDAQ: IIIV) shares accounts for 93.90% of the company’s 33.12M shares outstanding. Mutual fund holders own 52.45%, while other institutional holders and individual stakeholders account for 8.12% and 36.79% respectively.
It has a market capitalization of $971.70M and a beta (3y monthly) value of 1.35. The earnings-per-share (ttm) stands at -$0.77. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.13% over the week and 4.75% over the month.
Analysts forecast that i3 Verticals Inc. (IIIV) will achieve an EPS of $0.36 for the current quarter, $0.37 for the next quarter and $1.62 for 2023. The lowest estimate earnings-per-share for the quarter is $0.33 while analysts give the company a high EPS estimate of $0.4. Comparatively, EPS for the current quarter was $0.33 a year ago. Earnings per share for the fiscal year are expected to decrease by -262.10%, and 15.72% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate i3 Verticals Inc. (IIIV) as a “Strong Buy” at a consensus score of 1.70. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the IIIV, a number of firms have released research notes about the stock. KeyBanc Capital Markets stated their Overweight rating for the stock in a research note on January 09, 2023, with the firm’s price target at $30. Stephens coverage for the i3 Verticals Inc. (IIIV) stock in a research note released on June 10, 2022 offered a Overweight rating with a price target of $30. Morgan Stanley on their part issued Equal-Weight rating on July 26, 2021.
