Red Violet, Inc. $RDVT Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Red Violet, Inc. by 63.9% during the first quarter, owning 17,380 shares valued at approximately $653,000.
• Other institutional investors, including New York State Common Retirement Fund and Invesco Ltd., significantly boosted their holdings in Red Violet, with New York State increasing its position by 2,428.0%.
• Red Violet has garnered attention from analysts, with Lake Street Capital initiating coverage with a "buy" rating and a target price of $60.00, reflecting a consensus rating of "Buy" among analysts.

American Century Companies Inc. lifted its stake in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 63.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,380 shares of the company's stock after buying an additional 6,776 shares during the quarter. American Century Companies Inc. owned about 0.12% of Red Violet worth $653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in shares of Red Violet by 2.5% during the first quarter. Rhumbline Advisers now owns 16,304 shares of the company's stock worth $613,000 after purchasing an additional 393 shares during the last quarter. GAMMA Investing LLC grew its stake in Red Violet by 206,650.0% during the 1st quarter. GAMMA Investing LLC now owns 4,135 shares of the company's stock worth $155,000 after buying an additional 4,133 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Red Violet by 3,125.0% during the first quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company's stock worth $39,000 after buying an additional 1,000 shares during the period. Deutsche Bank AG lifted its stake in Red Violet by 80.7% in the fourth quarter. Deutsche Bank AG now owns 11,361 shares of the company's stock valued at $411,000 after buying an additional 5,073 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Red Violet by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,274 shares of the company's stock valued at $227,000 after acquiring an additional 259 shares during the period. 63.56% of the stock is owned by hedge funds and other institutional investors.

Red Violet Stock Performance

RDVT traded down $1.95 on Wednesday, reaching $49.32. 62,232 shares of the company's stock were exchanged, compared to its average volume of 90,744. Red Violet, Inc. has a twelve month low of $25.37 and a twelve month high of $54.19. The company's 50 day moving average is $46.49 and its 200-day moving average is $43.63. The company has a market cap of $689.49 million, a price-to-earnings ratio of 82.20 and a beta of 1.72.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Red Violet from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Lake Street Capital began coverage on Red Violet in a research report on Monday, August 4th. They set a "buy" rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Red Violet has a consensus rating of "Buy" and an average price target of $60.00.

Red Violet Profile

Red Violet, Inc, a software and services company, specializes in proprietary technologies and applying analytical capabilities to deliver identity intelligence in the United States. It offers idiCORE, an investigative solution used to address various organizational challenges, which include due diligence, risk mitigation, identity authentication, fraud detection and prevention, customer acquisition, and regulatory compliance; and FOREWARN, an app-based solution that provides instant knowledge before face-to-face engagement with a consumer, as well as helps professionals to identify and mitigate risk.