Red Violet, Inc. $RDVT Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. significantly increased its stake in Red Violet, Inc. by 930.3%, acquiring an additional 63,440 shares to own a total of 70,259 shares valued at approximately $2.64 million.
• An array of institutional investors, including MIRAE ASSET GLOBAL and Barclays PLC, have also adjusted their holdings, with institutional investors now owning 63.56% of the company's stock.
• Analysts have given Red Violet a consensus rating of "Buy" with an ambitious price target of $60.00, following positive coverage updates from firms like Lake Street Capital.

Invesco Ltd. grew its stake in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 930.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,259 shares of the company's stock after purchasing an additional 63,440 shares during the quarter. Invesco Ltd. owned approximately 0.50% of Red Violet worth $2,641,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in shares of Red Violet by 3,125.0% during the first quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company's stock valued at $39,000 after acquiring an additional 1,000 shares during the period. GAMMA Investing LLC lifted its stake in shares of Red Violet by 206,650.0% during the first quarter. GAMMA Investing LLC now owns 4,135 shares of the company's stock valued at $155,000 after acquiring an additional 4,133 shares during the period. Wells Fargo & Company MN raised its holdings in Red Violet by 58.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,688 shares of the company's stock worth $206,000 after buying an additional 2,089 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Red Violet during the 4th quarter worth about $215,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Red Violet by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,274 shares of the company's stock worth $227,000 after purchasing an additional 259 shares during the period. Institutional investors and hedge funds own 63.56% of the company's stock.

Red Violet Stock Down 1.1%

Shares of NASDAQ RDVT traded down $0.54 during trading hours on Wednesday, hitting $49.45. 17,151 shares of the stock were exchanged, compared to its average volume of 102,086. The firm has a fifty day moving average price of $46.34 and a 200-day moving average price of $43.25. The company has a market cap of $691.37 million, a PE ratio of 82.73 and a beta of 1.72. Red Violet, Inc. has a 12 month low of $25.37 and a 12 month high of $52.24.

Analyst Ratings Changes

RDVT has been the subject of a number of analyst reports. Lake Street Capital assumed coverage on shares of Red Violet in a research note on Monday, August 4th. They set a "buy" rating and a $60.00 target price for the company. Wall Street Zen raised shares of Red Violet from a "hold" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $60.00.

Red Violet Company 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.