Red Violet (NASDAQ:RDVT) Stock Rating Lowered by Wall Street Zen

Red Violet (NASDAQ:RDVT) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

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

Red Violet Stock Performance

Red Violet stock opened at $43.59 on Friday. The stock has a 50-day moving average of $46.24 and a two-hundred day moving average of $42.58. The stock has a market cap of $609.39 million, a PE ratio of 72.65 and a beta of 1.82. Red Violet has a one year low of $25.37 and a one year high of $52.24.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RDVT. Fifth Third Bancorp acquired a new position in shares of Red Violet in the second quarter valued at about $25,000. Nisa Investment Advisors LLC increased its holdings in shares of Red Violet by 3,125.0% in 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 during the period. Tower Research Capital LLC TRC increased its holdings in shares of Red Violet by 160.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock valued at $51,000 after purchasing an additional 636 shares during the period. USA Financial Formulas acquired a new position in shares of Red Violet in the second quarter valued at about $121,000. Finally, AlphaQuest LLC acquired a new position in shares of Red Violet in the first quarter valued at about $129,000. 63.56% of the stock is owned by institutional investors and hedge funds.

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.