Red Violet, Inc. $RDVT Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Red Violet, Inc. by 1.2%, bringing its total ownership to approximately 4.42% valued at $23.15 million.
• Other institutional investors, such as Dimensional Fund Advisors and New York State Common Retirement Fund, also boosted their holdings significantly, indicating growing interest in Red Violet.
• Red Violet's average analyst rating is a "Buy," with a consensus price target of $60.00 despite a recent downgrade from Wall Street Zen to a "hold" rating.

Vanguard Group Inc. raised its holdings in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 615,948 shares of the company's stock after purchasing an additional 7,396 shares during the period. Vanguard Group Inc. owned approximately 4.42% of Red Violet worth $23,153,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in Red Violet by 3,125.0% during the first 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 in the last quarter. GAMMA Investing LLC grew 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 in the last quarter. Wells Fargo & Company MN grew its position in Red Violet by 58.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,688 shares of the company's stock worth $206,000 after acquiring an additional 2,089 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Red Violet in the fourth quarter worth about $215,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 valued at $227,000 after buying an additional 259 shares during the period. 63.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RDVT. Lake Street Capital assumed coverage on shares of Red Violet in a research note on Monday, August 4th. They issued a "buy" rating and a $60.00 price objective for the company. Wall Street Zen raised shares of Red Violet from a "hold" rating to a "buy" rating in a research note on Saturday. 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 a consensus price target of $60.00.

Red Violet Trading Down 1.3%

Shares of Red Violet stock traded down $0.68 on Friday, reaching $50.24. 75,423 shares of the stock were exchanged, compared to its average volume of 99,011. Red Violet, Inc. has a 1-year low of $25.37 and a 1-year high of $52.24. The business has a fifty day moving average price of $46.29 and a two-hundred day moving average price of $43.15. The firm has a market capitalization of $702.25 million, a PE ratio of 83.73 and a beta of 1.82.

About Red Violet

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.