Weiss Ratings Reiterates "Hold (C)" Rating for Red Violet (NASDAQ:RDVT)

Key Points

• Weiss Ratings has reiterated its "Hold (C)" rating for Red Violet (NASDAQ:RDVT), reflecting cautious sentiment from analysts regarding the company's stock performance.
• In contrast, Wall Street Zen upgraded Red Violet from a "Hold" to a "Buy" rating, highlighting an average target price of $60, indicating potential for growth.
• The stock has demonstrated strong price performance, with a current trading range between a one-year low of $25.66 and a high of $54.19, alongside a market capitalization of approximately $729 million.

Red Violet (NASDAQ:RDVT - Get Free Report)'s stock had its "hold (c)" rating restated by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently commented on RDVT. Wall Street Zen raised shares of Red Violet from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Lake Street Capital assumed coverage on shares of Red Violet in a research report on Monday, August 4th. They set a "buy" rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $60.00.

Red Violet Price Performance

Red Violet stock opened at $52.15 on Wednesday. The company has a market capitalization of $729.06 million, a price-to-earnings ratio of 86.92 and a beta of 1.70. Red Violet has a one year low of $25.66 and a one year high of $54.19. The company's fifty day moving average price is $48.26 and its two-hundred day moving average price is $45.44.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Salem Investment Counselors Inc. raised its holdings in Red Violet by 6.7% in the 3rd quarter. Salem Investment Counselors Inc. now owns 27,013 shares of the company's stock worth $1,411,000 after acquiring an additional 1,701 shares during the period. Osaic Holdings Inc. increased its holdings in shares of Red Violet by 12.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,486 shares of the company's stock worth $221,000 after purchasing an additional 500 shares during the period. Squarepoint Ops LLC bought a new position in shares of Red Violet during the 2nd quarter worth about $1,775,000. Ashford Capital Management Inc. increased its holdings in shares of Red Violet by 1.3% during the 2nd quarter. Ashford Capital Management Inc. now owns 593,514 shares of the company's stock worth $29,201,000 after purchasing an additional 7,610 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Red Violet by 160.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company's stock worth $51,000 after purchasing an additional 636 shares during the period. Institutional investors own 63.56% of the company's stock.

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.

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