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Reasons to Add i3 Verticals (IIIV) to Your Portfolio

Voss Capital, LLC an investment management company, released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. Voss Capital’s funds, Voss Value Fund, LP, and the Voss Value Offshore Fund, Ltd returned +7.2% and +6.8% net of fees and expenses respectively, in the second quarter compared to a +5.2% return for the Russell 2000 Index, +3.2% return for the Russell 2000 Value Index, and +8.7% return for the S&P 500 Index. Voss Value Master Fund’s total gross exposure as of June 30, 2023, was 139.9% and the net long exposure was 78.7%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Voss Capital highlighted stocks like i3 Verticals, Inc. (NASDAQ:IIIV) in the second quarter 2023 investor letter. Headquartered in Nashville, Tennessee, i3 Verticals, Inc. (NASDAQ:IIIV) is an integrated payment and software solutions provider. On October 3, 2023, i3 Verticals, Inc. (NASDAQ:IIIV) stock closed at $19.90 per share. One-month return of i3 Verticals, Inc. (NASDAQ:IIIV) was -14.96%, and its shares lost 9.59% of their value over the last 52 weeks. i3 Verticals, Inc. (NASDAQ:IIIV) has a market capitalization of $689.826 million.

Voss Capital made the following comment about i3 Verticals, Inc. (NASDAQ:IIIV) in its Q2 2023 investor letter:

"Given the relative valuations of many FinTech stocks that have been hitting 10-year (Visa) or all-time lows (SSNC, EEFT, etc.), FinTech is noticeably out of favor on Wall Street, especially post-SIVB-bank failure/financial sector scare.

One FinTech stock we have been buying is Nashville-based i3 Verticals, Inc. (NASDAQ:IIIV). IIIV is a software and payment solutions provider, mainly to the Public (e.g., municipalities for utility payments, states for auto registration billing), and Healthcare sectors. IIIV was originally known as more of a pureplay payment processor, but over the last few years, the company has employed a software acquisition strategy whereby they acquire the software assets and then layer their payments engine onto the acquired businesses to fuel organic growth. Through the implementation of this strategy, IIIV has been rapidly shifting to a higher mix of recurring SaaS revenue and transitioning from majority “payments” revenue to a majority “software” company…” (Click here to read the full text)

fintech payment card cashier counter
fintech payment card cashier counter

Photo by Clay Banks on Unsplash

i3 Verticals, Inc. (NASDAQ:IIIV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held i3 Verticals, Inc. (NASDAQ:IIIV) at the end of second quarter which was 14 in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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