USA Financial Formulas Buys New Shares in Red Violet, Inc. $RDVT

USA Financial Formulas purchased a new position in Red Violet, Inc. (NASDAQ:RDVT) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 2,467 shares of the company’s stock, valued at approximately $121,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in shares of Red Violet by 2.5% during 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. GAMMA Investing LLC raised its stake in Red Violet by 206,650.0% during the 1st quarter. GAMMA Investing LLC now owns 4,135 shares of the company’s stock worth $155,000 after buying an additional 4,133 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Red Violet by 3,125.0% in the first quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company’s stock worth $39,000 after acquiring an additional 1,000 shares in the last quarter. Bank of America Corp DE grew its stake in Red Violet by 29.4% in the fourth quarter. Bank of America Corp DE now owns 11,122 shares of the company’s stock valued at $403,000 after acquiring an additional 2,526 shares during the period. Finally, CWM LLC grew its stake in Red Violet by 5,900.0% in the first quarter. CWM LLC now owns 17,640 shares of the company’s stock valued at $663,000 after acquiring an additional 17,346 shares during the period. 63.56% of the stock is owned by institutional investors.

Red Violet Trading Down 4.3%

NASDAQ RDVT opened at $50.62 on Friday. The business has a fifty day simple moving average of $47.72 and a 200 day simple moving average of $45.09. Red Violet, Inc. has a 12 month low of $25.37 and a 12 month high of $54.19. The firm has a market capitalization of $707.67 million, a P/E ratio of 84.37 and a beta of 1.70.

Wall Street Analysts Forecast Growth

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

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.