Nuveen LLC Invests $1.89 Million in Red Violet, Inc. $RDVT

Key Points

• Nuveen LLC acquired a new stake in Red Violet, Inc. (NASDAQ:RDVT), purchasing 50,154 shares valued at approximately $1.88 million in the first quarter.
• Analysts have increased their outlook for Red Violet, with Wall Street Zen raising the stock to a "buy" rating and setting a $60.00 target price.
• Red Violet has shown strong market performance, with a 1-year high of $52.24 and a current trading price of around $50.24.

Nuveen LLC purchased a new stake in Red Violet, Inc. (NASDAQ:RDVT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,154 shares of the company's stock, valued at approximately $1,885,000. Nuveen LLC owned approximately 0.36% of Red Violet at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its holdings in Red Violet by 3,125.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company's stock valued at $39,000 after buying an additional 1,000 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 4,133 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Red Violet by 58.0% in the fourth 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 during the period. Hsbc Holdings PLC acquired a new stake in Red Violet during the fourth quarter worth about $215,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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. Hedge funds and other institutional investors own 63.56% of the company's stock.

Red Violet Price Performance

Shares of NASDAQ:RDVT traded down $0.35 during mid-day trading on Wednesday, reaching $49.64. 17,151 shares of the company were exchanged, compared to its average volume of 102,086. Red Violet, Inc. has a 1 year low of $25.37 and a 1 year high of $52.24. The firm's 50-day simple moving average is $46.34 and its 200 day simple moving average is $43.25. The firm has a market cap of $693.97 million, a price-to-earnings ratio of 82.73 and a beta of 1.72.

Analysts Set New Price Targets

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

About Red Violet

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.