Ancora Advisors LLC Sells 39,266 Shares of Red Violet, Inc. $RDVT

Key Points

• Ancora Advisors LLC drastically reduced its holdings in Red Violet, Inc. by 50.8%, now owning approximately 0.27% of the company, valued at $1.43 million.
• Several institutional investors have significantly increased their positions, with Pembroke Management LTD boosting its holdings by 740.2%, acquiring over 252,000 shares worth nearly $9.5 million.
• Analysts have a consensus rating of "Buy" for Red Violet, Inc., with a recent target price set at $60.00 by Lake Street Capital.

Ancora Advisors LLC cut its holdings in Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 50.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,091 shares of the company's stock after selling 39,266 shares during the quarter. Ancora Advisors LLC owned approximately 0.27% of Red Violet worth $1,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in shares of Red Violet by 3,125.0% in the first 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. AlphaQuest LLC acquired a new position in shares of Red Violet during the first quarter valued at $129,000. 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 acquiring an additional 1,615 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. Finally, Magnetar Financial LLC acquired a new position in shares of Red Violet during the first quarter valued at $206,000. 63.56% of the stock is currently owned by institutional investors and hedge funds.

Red Violet Stock Performance

NASDAQ:RDVT traded down $0.64 during mid-day trading on Wednesday, hitting $50.63. The company had a trading volume of 9,626 shares, compared to its average volume of 102,166. Red Violet, Inc. has a fifty-two week low of $25.37 and a fifty-two week high of $54.19. The business's fifty day moving average is $46.47 and its two-hundred day moving average is $43.59. The firm has a market cap of $707.86 million, a P/E ratio of 84.28 and a beta of 1.72.

Analysts Set New Price Targets

RDVT has been the topic of several research reports. Wall Street Zen raised 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 research note on Monday, August 4th. They set a "buy" rating and a $60.00 price target on the stock. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average 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.