State of Wyoming Invests $238,000 in Red Violet, Inc. $RDVT

Key Points

• The State of Wyoming has invested approximately $238,000 in Red Violet, Inc. by acquiring 6,322 shares of the company.
• Several institutional investors have recently adjusted their holdings in Red Violet, with New York State Common Retirement Fund notably increasing its stake by 2,428.0%.
• Red Violet has a current consensus rating of "Buy" with an average target price of $60.00 set by analysts.

State of Wyoming purchased a new stake in Red Violet, Inc. (NASDAQ:RDVT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,322 shares of the company's stock, valued at approximately $238,000.

Several other large investors also recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its position in 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 in the last quarter. AlphaQuest LLC bought a new position in Red Violet in the 1st quarter valued at approximately $129,000. Quantbot Technologies LP grew its holdings in Red Violet by 66.4% in the first quarter. Quantbot Technologies LP now owns 4,046 shares of the company's stock worth $152,000 after purchasing an additional 1,615 shares during the period. GAMMA Investing LLC raised its position in 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 acquiring an additional 4,133 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Red Violet by 58.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,688 shares of the company's stock valued at $206,000 after acquiring an additional 2,089 shares in the last quarter. Institutional investors own 63.56% of the company's stock.

Red Violet Price Performance

Shares of RDVT traded up $1.13 during mid-day trading on Monday, hitting $51.81. The stock had a trading volume of 226,447 shares, compared to its average volume of 102,570. Red Violet, Inc. has a 52 week low of $25.37 and a 52 week high of $54.19. The business has a fifty day moving average price of $46.39 and a 200-day moving average price of $43.45. The firm has a market cap of $724.30 million, a P/E ratio of 87.12 and a beta of 1.72.

Wall Street Analyst Weigh In

RDVT has been the subject of a number of recent analyst reports. Lake Street Capital initiated coverage on shares of Red Violet in a report on Monday, August 4th. They set a "buy" rating and a $60.00 price target for the company. Wall Street Zen raised 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, According to data from MarketBeat, the company presently has a consensus 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.