Red Violet (NASDAQ:RDVT) Reaches New 12-Month High - Time to Buy?

Key Points

• Red Violet, Inc. (NASDAQ:RDVT) recently hit a new 52-week high of $53.80, closing at $53.87 with a trading volume of 47,445 shares.
• Wall Street analysts show a favorable outlook, with a "buy" rating from Wall Street Zen and a price target of $60.00 from Lake Street Capital.
• Institutional investors own 63.56% of Red Violet's stock, with significant recent stake increases from various hedge funds.

Red Violet, Inc. (NASDAQ:RDVT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $53.80 and last traded at $53.87, with a volume of 47445 shares traded. The stock had previously closed at $50.68.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Lake Street Capital assumed coverage on shares of Red Violet in a report on Monday, August 4th. They issued a "buy" rating and a $60.00 price target on the stock. Wall Street Zen raised shares of Red Violet from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $60.00.

Red Violet Price Performance

The business's 50 day moving average is $46.42 and its two-hundred day moving average is $43.77. The firm has a market capitalization of $679.57 million, a PE ratio of 81.02 and a beta of 1.72.

Institutional Investors Weigh In On Red Violet

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Red Violet by 1.2% in the first quarter. Vanguard Group Inc. now owns 615,948 shares of the company's stock valued at $23,153,000 after purchasing an additional 7,396 shares in the last quarter. Ashford Capital Management Inc. grew its position in Red Violet by 1.3% during the second quarter. Ashford Capital Management Inc. now owns 593,514 shares of the company's stock valued at $29,201,000 after acquiring an additional 7,610 shares during the last quarter. Brown Capital Management LLC grew its position in Red Violet by 31.3% during the second quarter. Brown Capital Management LLC now owns 469,340 shares of the company's stock valued at $23,092,000 after acquiring an additional 111,908 shares during the last quarter. Geode Capital Management LLC grew its position in Red Violet by 4.6% during the second quarter. Geode Capital Management LLC now owns 273,818 shares of the company's stock valued at $13,475,000 after acquiring an additional 12,102 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd bought a new position in Red Violet during the second quarter valued at approximately $11,892,000. 63.56% of the stock is owned by hedge funds and other institutional investors.

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.