Trigran Investments Inc. Trims Stake in Red Violet, Inc. $RDVT

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. decreased its position in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 24.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,208,845 shares of the company's stock after selling 386,554 shares during the quarter. Red Violet makes up 6.7% of Trigran Investments Inc.'s holdings, making the stock its 7th largest holding. Trigran Investments Inc. owned 8.66% of Red Violet worth $45,440,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Red Violet by 4.3% during the fourth 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 in the last quarter. Rhumbline Advisers lifted its holdings in Red Violet by 2.5% in the 1st quarter. Rhumbline Advisers now owns 16,304 shares of the company's stock worth $613,000 after purchasing an additional 393 shares in the last quarter. Bard Associates Inc. lifted its holdings in Red Violet by 6.7% in the 1st quarter. Bard Associates Inc. now owns 8,822 shares of the company's stock worth $332,000 after purchasing an additional 554 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Red Violet by 3,125.0% in 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 in the last quarter. Finally, Barclays PLC lifted its holdings in Red Violet by 10.6% in the 4th quarter. Barclays PLC now owns 20,463 shares of the company's stock worth $740,000 after purchasing an additional 1,961 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company's stock.

Analyst Upgrades and Downgrades

RDVT has been the topic of several recent analyst reports. Lake Street Capital initiated coverage on shares of Red Violet in a research report on Monday, August 4th. They set a "buy" rating and a $60.00 price objective on the stock. Wall Street Zen cut shares of Red Violet from a "buy" rating to a "hold" rating in a research report on Sunday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $60.00.

Red Violet Price Performance

Shares of NASDAQ RDVT traded up $0.30 during midday trading on Wednesday, reaching $44.37. 68,999 shares of the stock traded hands, compared to its average volume of 103,677. The company's 50 day moving average is $46.22 and its 200 day moving average is $42.69. Red Violet, Inc. has a one year low of $25.37 and a one year high of $52.24. The stock has a market capitalization of $620.29 million, a PE ratio of 73.95 and a beta of 1.82.

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.