Red Violet, Inc. $RDVT Shares Sold by Cove Street Capital LLC

Key Points

• Cove Street Capital LLC has reduced its stake in Red Violet, Inc. by 52.1%, now holding 8,303 shares valued at approximately $312,000.
• Multiple institutional investors have significantly increased their holdings in Red Violet, notably Nisa Investment Advisors LLC which raised its stake by 3,125% in the first quarter.
• Equities analysts generally have a positive outlook on Red Violet, with a consensus buy rating and a target price of $60.00.

Cove Street Capital LLC reduced its stake in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 52.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,303 shares of the company's stock after selling 9,037 shares during the quarter. Cove Street Capital LLC owned approximately 0.06% of Red Violet worth $312,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in Red Violet by 3,125.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company's stock worth $39,000 after purchasing an additional 1,000 shares during the period. AlphaQuest LLC purchased a new stake in Red Violet in the first quarter worth about $129,000. Quantbot Technologies LP grew its holdings in Red Violet by 66.4% during the 1st quarter. Quantbot Technologies LP now owns 4,046 shares of the company's stock worth $152,000 after acquiring an additional 1,615 shares in the last quarter. GAMMA Investing LLC increased its position in Red Violet by 206,650.0% during the 1st quarter. GAMMA Investing LLC now owns 4,135 shares of the company's stock valued at $155,000 after purchasing an additional 4,133 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Red Violet by 58.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,688 shares of the company's stock valued at $206,000 after purchasing an additional 2,089 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company's stock.

Wall Street Analysts Forecast Growth

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

Red Violet Stock Performance

RDVT stock traded up $0.45 during trading on Monday, reaching $51.13. The company had a trading volume of 268,140 shares, compared to its average volume of 102,841. The company has a market cap of $714.80 million, a price-to-earnings ratio of 85.22 and a beta of 1.72. Red Violet, Inc. has a twelve month low of $25.37 and a twelve month high of $54.19. The firm has a 50-day simple moving average of $46.39 and a 200-day simple moving average of $43.45.

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.