Kornitzer Capital Management Inc. KS Sells 36,800 Shares of i3 Verticals, Inc. (NASDAQ:IIIV)

Kornitzer Capital Management Inc. KS lowered its position in shares of i3 Verticals, Inc. (NASDAQ:IIIV) by 46.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,600 shares of the company’s stock after selling 36,800 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.13% of i3 Verticals worth $902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IIIV. Ameriprise Financial Inc. increased its position in shares of i3 Verticals by 166.7% during the third quarter. Ameriprise Financial Inc. now owns 621,940 shares of the company’s stock valued at $13,148,000 after acquiring an additional 388,721 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of i3 Verticals during the third quarter valued at approximately $6,807,000. Wellington Management Group LLP increased its position in shares of i3 Verticals by 27.6% during the first quarter. Wellington Management Group LLP now owns 1,349,231 shares of the company’s stock valued at $37,591,000 after acquiring an additional 291,836 shares in the last quarter. Voss Capital LLC increased its position in shares of i3 Verticals by 36.9% during the third quarter. Voss Capital LLC now owns 937,083 shares of the company’s stock valued at $19,810,000 after acquiring an additional 252,439 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of i3 Verticals by 23.3% during the first quarter. Vanguard Group Inc. now owns 1,004,719 shares of the company’s stock valued at $27,992,000 after acquiring an additional 189,889 shares in the last quarter. Institutional investors own 84.22% of the company’s stock.

i3 Verticals Stock Performance

Shares of IIIV stock opened at $22.33 on Monday. i3 Verticals, Inc. has a 1 year low of $17.54 and a 1 year high of $25.70. The firm has a fifty day moving average price of $22.04 and a 200-day moving average price of $20.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.50 and a quick ratio of 0.50.

i3 Verticals (NASDAQ:IIIV) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. i3 Verticals had a net margin of 0.14% and a return on equity of 9.28%. The firm had revenue of $91.99 million during the quarter, compared to the consensus estimate of $92.92 million. As a group, sell-side analysts anticipate that i3 Verticals, Inc. will post 0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on IIIV shares. Morgan Stanley reduced their price target on shares of i3 Verticals from $25.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Benchmark restated a “buy” rating and issued a $28.00 target price on shares of i3 Verticals in a report on Monday, April 1st. BMO Capital Markets dropped their target price on shares of i3 Verticals from $24.00 to $23.00 and set a “market perform” rating on the stock in a report on Monday, February 12th. Finally, TheStreet upgraded shares of i3 Verticals from a “d+” rating to a “c-” rating in a report on Monday, March 18th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.00.

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.