Red Violet, Inc. $RDVT Stake Lifted by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Red Violet, Inc. by 52.0%, acquiring an additional 52,130 shares, bringing its total ownership to approximately 1.09% of the company, valued at about $5.7 million.
• Several institutional investors have significantly increased their stakes in Red Violet, with Nisa Investment Advisors LLC growing its stake by 3,125.0% and GAMMA Investing LLC by an astounding 206,650.0%.
• Wall Street analysts have mixed opinions on Red Violet, with one firm downgrading the stock from a "buy" to a "hold" rating, while another set a target price of $60.00, indicating an overall consensus rating of "buy" based on available data.

Russell Investments Group Ltd. increased its stake in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 52.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,374 shares of the company's stock after buying an additional 52,130 shares during the quarter. Russell Investments Group Ltd. owned about 1.09% of Red Violet worth $5,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RDVT. 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 during the last quarter. GAMMA Investing LLC lifted its position in shares of Red Violet by 206,650.0% during the 1st 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. Wells Fargo & Company MN raised its position in shares of Red Violet by 58.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,688 shares of the company's stock worth $206,000 after purchasing an additional 2,089 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Red Violet during the 4th quarter worth approximately $215,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Red Violet by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,274 shares of the company's stock worth $227,000 after purchasing an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 63.56% of the company's stock.

Red Violet Trading Up 1.8%

RDVT traded up $0.84 on Tuesday, hitting $48.01. 70,575 shares of the company's stock were exchanged, compared to its average volume of 98,514. Red Violet, Inc. has a twelve month low of $25.37 and a twelve month high of $52.24. The firm has a market cap of $671.18 million, a PE ratio of 80.02 and a beta of 1.82. The stock has a fifty day moving average of $46.14 and a two-hundred day moving average of $42.94.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RDVT shares. Wall Street Zen downgraded Red Violet from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Lake Street Capital started coverage on shares of Red Violet in a research note on Monday, August 4th. They set a "buy" rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target 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.