Mesirow Financial Investment Management Inc. Lifted Stake in i3 Verticals Inc (IIIV)

Mesirow Financial Investment Management Inc. Lifted Stake in i3 Verticals Inc (IIIV)

Mesirow Financial Investment Management Inc. grew its stake in shares of i3 Verticals Inc (NASDAQ:IIIV) by 77.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,346 shares of the company’s stock after purchasing an additional 11,956 shares during the quarter. i3 Verticals makes up about 3.2% of Mesirow Financial Investment Management Inc.’s holdings, making the stock its biggest position. Mesirow Financial Investment Management Inc. owned 0.10% of i3 Verticals worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in i3 Verticals during the second quarter worth approximately $149,000. Raymond James & Associates purchased a new position in shares of i3 Verticals during the second quarter worth approximately $283,000. Columbia Partners L L C Investment Management purchased a new position in shares of i3 Verticals during the second quarter worth approximately $395,000. Teton Advisors Inc. purchased a new position in shares of i3 Verticals during the second quarter worth approximately $469,000. Finally, Dean Capital Investments Management LLC purchased a new position in shares of i3 Verticals during the second quarter worth approximately $498,000. 21.73% of the stock is currently owned by institutional investors.

A number of research firms recently weighed in on IIIV. Zacks Investment Research upgraded shares of i3 Verticals from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Monday, September 17th. Raymond James began coverage on shares of i3 Verticals in a research report on Monday, July 16th. They issued an “outperform” rating on the stock. Cowen began coverage on shares of i3 Verticals in a research report on Monday, July 16th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, KeyCorp began coverage on shares of i3 Verticals in a research report on Monday, July 16th. They issued an “overweight” rating and a $21.00 price objective on the stock.

In related news, Director David K. Morgan bought 2,000 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were bought at an average cost of $15.66 per share, for a total transaction of $31,320.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

NASDAQ:IIIV traded up $0.57 during midday trading on Tuesday, reaching $21.75. The stock had a trading volume of 3,688 shares, compared to its average volume of 202,937. i3 Verticals Inc has a 12-month low of $13.79 and a 12-month high of $25.50. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.27.

i3 Verticals (NASDAQ:IIIV) last issued its earnings results on Thursday, August 9th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $28.83 million for the quarter, compared to analysts’ expectations of $28.41 million. The business’s quarterly revenue was up 62.3% on a year-over-year basis. Research analysts expect that i3 Verticals Inc will post 0.56 EPS for the current year.

About i3 Verticals

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses (SMBs) 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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