Martingale Asset Management L P Boosts Stake in Red Violet, Inc. $RDVT

Key Points

• Martingale Asset Management L P increased its stake in Red Violet, Inc. by 95.6% in Q1, owning 17,232 shares valued at $648,000.
• Red Violet's stock price recently rose by 5.2%, with current trading at $47.67 and a market cap of $666.43 million.
• Analysts have mixed ratings for Red Violet, with one firm downgrading it to a "hold" while another set a $60.00 price target with a "buy" rating.

Martingale Asset Management L P boosted its position in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 95.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,232 shares of the company's stock after buying an additional 8,420 shares during the period. Martingale Asset Management L P owned 0.12% of Red Violet worth $648,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RDVT. Rhumbline Advisers boosted its stake in shares of Red Violet by 2.5% in the first quarter. Rhumbline Advisers now owns 16,304 shares of the company's stock worth $613,000 after acquiring an additional 393 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Red Violet by 206,650.0% in the 1st quarter. GAMMA Investing LLC now owns 4,135 shares of the company's stock valued at $155,000 after purchasing an additional 4,133 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Red Violet by 3,125.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company's stock worth $39,000 after purchasing an additional 1,000 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Red Violet by 80.7% during the fourth quarter. Deutsche Bank AG now owns 11,361 shares of the company's stock worth $411,000 after buying an additional 5,073 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Red Violet by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,274 shares of the company's stock valued at $227,000 after buying an additional 259 shares during the last quarter. Institutional investors and hedge funds own 63.56% of the company's stock.

Wall Street Analyst Weigh In

RDVT has been the topic of several research reports. Lake Street Capital initiated coverage on shares of Red Violet in a research note on Monday, August 4th. They issued a "buy" rating and a $60.00 price target 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. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Red Violet has an average rating of "Buy" and a consensus target price of $60.00.

Red Violet Trading Down 1.3%

Red Violet stock traded down $0.68 during mid-day trading on Friday, hitting $50.24. The company's stock had a trading volume of 75,423 shares, compared to its average volume of 99,011. The stock's fifty day moving average is $46.29 and its two-hundred day moving average is $43.15. The firm has a market capitalization of $702.36 million, a PE ratio of 83.73 and a beta of 1.82. Red Violet, Inc. has a 1 year low of $25.37 and a 1 year high of $52.24.

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.