Acadian Asset Management LLC Raises Stock Holdings in Red Violet, Inc. $RDVT

Key Points

• Acadian Asset Management LLC raised its stake in Red Violet, Inc. by 28.4%, now owning approximately 0.28% of the company, valued at $1.46 million as of its latest SEC filing.
• Red Violet's stock has shown upward movement, increasing by 1.3%, with a current trading price of $49.99 and a 12-month high of $54.19.
• Analysts maintain a consensus "Buy" rating for Red Violet, with a target price set at $60.00, indicating optimism about the company's future growth.

Acadian Asset Management LLC lifted its position in Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,990 shares of the company's stock after purchasing an additional 8,624 shares during the period. Acadian Asset Management LLC owned about 0.28% of Red Violet worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of RDVT. Pembroke Management LTD increased its stake in shares of Red Violet by 740.2% during the first quarter. Pembroke Management LTD now owns 252,503 shares of the company's stock worth $9,492,000 after buying an additional 222,451 shares during the period. New York State Common Retirement Fund boosted its holdings in Red Violet by 2,428.0% in the 1st quarter. New York State Common Retirement Fund now owns 106,024 shares of the company's stock worth $3,985,000 after acquiring an additional 101,830 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Red Violet during the 1st quarter valued at approximately $3,826,000. Invesco Ltd. increased its position in Red Violet by 930.3% in the first quarter. Invesco Ltd. now owns 70,259 shares of the company's stock worth $2,641,000 after buying an additional 63,440 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Red Violet by 52.0% in the 1st quarter. Russell Investments Group Ltd. now owns 152,374 shares of the company's stock valued at $5,728,000 after purchasing an additional 52,130 shares during the period. Institutional investors and hedge funds own 63.56% of the company's stock.

Red Violet Trading Up 2.4%

Red Violet stock traded up $1.21 during midday trading on Friday, reaching $52.26. 319,829 shares of the stock traded hands, compared to its average volume of 83,624. Red Violet, Inc. has a fifty-two week low of $25.37 and a fifty-two week high of $54.19. The firm has a market cap of $730.59 million, a price-to-earnings ratio of 87.10 and a beta of 1.72. The firm has a fifty day moving average price of $46.56 and a two-hundred day moving average price of $44.15.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Lake Street Capital assumed coverage on Red Violet in a research report on Monday, August 4th. They issued a "buy" rating and a $60.00 price target on the stock. Wall Street Zen upgraded Red Violet from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $60.00.

Red Violet 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.