Precision Wealth Strategies LLC Buys Shares of 18,609 Red Violet, Inc. $RDVT

Key Points

• Precision Wealth Strategies LLC purchased 18,609 shares of Red Violet, Inc. (NASDAQ:RDVT), valued at approximately $916,000, during the second quarter.
• Red Violet stock has experienced a positive trend, recently rising by 1.2% to open at $52.90.
• Several firms, including Wall Street Zen, have upgraded Red Violet's rating to "buy", with a price target of $60.00.

Precision Wealth Strategies LLC purchased a new position in Red Violet, Inc. (NASDAQ:RDVT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,609 shares of the company's stock, valued at approximately $916,000. Precision Wealth Strategies LLC owned about 0.13% of Red Violet as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RDVT. Fifth Third Bancorp purchased a new stake in Red Violet during the 2nd quarter worth about $25,000. Nisa Investment Advisors LLC grew 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 worth $39,000 after buying an additional 1,000 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Red Violet during the second quarter worth about $121,000. AlphaQuest LLC acquired a new position in shares of Red Violet in the first quarter valued at approximately $129,000. Finally, Quantbot Technologies LP lifted its stake in shares of Red Violet by 66.4% during the first quarter. Quantbot Technologies LP now owns 4,046 shares of the company's stock valued at $152,000 after buying an additional 1,615 shares during the period. Institutional investors and hedge funds own 63.56% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on RDVT. Wall Street Zen raised shares of Red Violet from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Lake Street Capital initiated coverage on Red Violet in a report on Monday, August 4th. They set a "buy" rating and a $60.00 price objective on the stock. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $60.00.

Red Violet Stock Up 1.2%

NASDAQ:RDVT opened at $52.90 on Thursday. The company has a market cap of $739.54 million, a P/E ratio of 88.17 and a beta of 1.70. The firm's 50 day moving average is $47.60 and its two-hundred day moving average is $45.00. Red Violet, Inc. has a fifty-two week low of $25.37 and a fifty-two week high of $54.19.

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.

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