Cubist Systematic Strategies LLC Decreases Stock Position in Red Violet, Inc. $RDVT

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Red Violet, Inc. by 54.8%, now owning 8,628 shares after selling 10,469 shares in the first quarter.
• Several institutional investors have been active in their holdings of Red Violet, with Pembroke Management increasing its stake by 740.2%, now owning 252,503 shares valued at around $9.5 million.
• Red Violet's stock has received a "buy" rating from Wall Street Zen, with an average target price set at $60.00, indicating a positive outlook from analysts.

Cubist Systematic Strategies LLC lessened its position in Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 54.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,628 shares of the company's stock after selling 10,469 shares during the period. Cubist Systematic Strategies LLC owned about 0.06% of Red Violet worth $324,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RDVT. Pembroke Management LTD raised its position in shares of Red Violet by 740.2% in the first quarter. Pembroke Management LTD now owns 252,503 shares of the company's stock valued at $9,492,000 after buying an additional 222,451 shares during the last quarter. New York State Common Retirement Fund increased its position in Red Violet by 2,428.0% during the first quarter. New York State Common Retirement Fund now owns 106,024 shares of the company's stock worth $3,985,000 after purchasing an additional 101,830 shares during the last quarter. Invesco Ltd. increased its position in Red Violet by 930.3% during the first quarter. Invesco Ltd. now owns 70,259 shares of the company's stock worth $2,641,000 after purchasing an additional 63,440 shares during the last quarter. Russell Investments Group Ltd. increased its position in Red Violet by 52.0% during the first quarter. Russell Investments Group Ltd. now owns 152,374 shares of the company's stock worth $5,728,000 after purchasing an additional 52,130 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Red Violet during the first quarter worth approximately $1,885,000. Institutional investors and hedge funds own 63.56% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Red Violet from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Lake Street Capital assumed coverage on shares of Red Violet in a research report on Monday, August 4th. They set a "buy" rating and a $60.00 price target for the company. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Red Violet currently has an average rating of "Buy" and a consensus price target of $60.00.

Red Violet Stock Performance

Shares of RDVT stock traded up $0.75 on Monday, hitting $49.36. The stock had a trading volume of 55,262 shares, compared to its average volume of 102,147. The firm has a market capitalization of $690.05 million, a price-to-earnings ratio of 82.27 and a beta of 1.72. The stock's 50 day moving average is $46.42 and its 200-day moving average is $43.84. Red Violet, Inc. has a 52-week low of $25.37 and a 52-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.