Red Violet, Inc. $RDVT is Trigran Investments Inc.'s 7th Largest Position

Key Points

• Trigran Investments Inc. has reduced its holdings in Red Violet, Inc. by 24.2%, selling 386,554 shares and currently holding 1,208,845 shares, making Red Violet the 7th largest position in its portfolio.
• Red Violet's stock opened at $43.59 with a market capitalization of $609.39 million and a PE ratio of 72.65, indicating investor interest and volatility.
• Analyst ratings saw a downgrade from Wall Street Zen to a "hold" rating, while Lake Street Capital initiated coverage with a "buy" rating and a target price of $60.00.

Trigran Investments Inc. lessened its holdings in Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 24.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,208,845 shares of the company's stock after selling 386,554 shares during the period. Red Violet makes up approximately 6.7% of Trigran Investments Inc.'s portfolio, making the stock its 7th largest position. Trigran Investments Inc. owned 8.66% of Red Violet worth $45,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Red Violet by 4.3% in the 4th 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. Rhumbline Advisers boosted its position in Red Violet by 2.5% in the 1st quarter. Rhumbline Advisers now owns 16,304 shares of the company's stock valued at $613,000 after buying an additional 393 shares during the period. Bard Associates Inc. boosted its position in Red Violet by 6.7% in the 1st quarter. Bard Associates Inc. now owns 8,822 shares of the company's stock valued at $332,000 after buying an additional 554 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Red Violet by 3,125.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company's stock valued at $39,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Red Violet by 10.6% in the 4th quarter. Barclays PLC now owns 20,463 shares of the company's stock valued at $740,000 after purchasing an additional 1,961 shares during the last quarter. Hedge funds and other institutional investors own 63.56% of the company's stock.

Analysts Set New Price Targets

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

Red Violet Price Performance

Shares of NASDAQ:RDVT traded up $2.2450 during trading on Friday, hitting $47.5550. 54,597 shares of the company were exchanged, compared to its average volume of 103,152. The stock has a market capitalization of $664.72 million, a P/E ratio of 79.26 and a beta of 1.82. Red Violet, Inc. has a 12-month low of $25.37 and a 12-month high of $52.24. The firm's 50 day moving average price is $46.13 and its 200-day moving average price is $42.75.

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.