Russell Investments Group Ltd. Acquires 52,130 Shares of Red Violet, Inc. $RDVT

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 holdings in Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 52.0% during the 1st 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 purchasing an additional 52,130 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.09% of Red Violet worth $5,728,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC grew 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 worth $39,000 after purchasing an additional 1,000 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Red Violet by 206,650.0% in the first quarter. GAMMA Investing LLC now owns 4,135 shares of the company's stock worth $155,000 after purchasing an additional 4,133 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Red Violet by 58.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,688 shares of the company's stock valued at $206,000 after buying an additional 2,089 shares during the period. Hsbc Holdings PLC acquired a new position in Red Violet in the fourth quarter valued at $215,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 period. Institutional investors own 63.56% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RDVT. Wall Street Zen lowered shares of Red Violet from a "buy" rating to a "hold" rating in a report on Sunday. Lake Street Capital began coverage on shares of Red Violet in a report on Monday, August 4th. They issued a "buy" rating and a $60.00 target price on the stock. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $60.00.

Red Violet Price Performance

RDVT stock opened at $44.37 on Thursday. The stock has a market capitalization of $620.29 million, a PE ratio of 73.95 and a beta of 1.82. The company's 50-day moving average is $46.16 and its 200-day moving average is $42.70. Red Violet, Inc. has a 1 year low of $25.37 and a 1 year high of $52.24.

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.

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