Red Violet (NASDAQ:RDVT) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Red Violet (NASDAQ:RDVT) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Separately, Lake Street Capital assumed coverage on Red Violet in a report on Monday, August 4th. They issued a “buy” rating and a $60.00 target price on the stock.

Red Violet Stock Down 2.6%

RDVT stock opened at $41.14 on Friday. Red Violet has a twelve month low of $25.37 and a twelve month high of $52.24. The stock’s 50 day moving average is $46.48 and its 200-day moving average is $42.40. The firm has a market capitalization of $575.14 million, a PE ratio of 68.57 and a beta of 1.82.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp purchased a new stake in shares of Red Violet during the second quarter valued at approximately $25,000. Nisa Investment Advisors LLC increased its position in shares of 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 acquiring an additional 1,000 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Red Violet during the second quarter valued at approximately $121,000. AlphaQuest LLC purchased a new stake in shares of Red Violet during the first quarter valued at approximately $129,000. Finally, Quantbot Technologies LP increased its position in shares of Red Violet by 66.4% during the first quarter. Quantbot Technologies LP now owns 4,046 shares of the company’s stock valued at $152,000 after acquiring an additional 1,615 shares during the last quarter. Institutional investors own 63.56% of the company’s stock.

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.