Principal Financial Group Inc. Buys 12,353 Shares of Red Violet, Inc. $RDVT

Principal Financial Group Inc. increased its stake in Red Violet, Inc. (NASDAQ:RDVT) by 227.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,796 shares of the company’s stock after purchasing an additional 12,353 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Red Violet worth $930,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in shares of Red Violet in the third quarter valued at about $33,000. Tower Research Capital LLC TRC lifted its stake in Red Violet by 160.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock valued at $51,000 after acquiring an additional 636 shares in the last quarter. Legal & General Group Plc boosted its position in Red Violet by 143.5% during the 2nd quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock worth $142,000 after acquiring an additional 1,702 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Red Violet by 50.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,178 shares of the company’s stock worth $218,000 after acquiring an additional 1,402 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in shares of Red Violet by 23.0% during the 2nd quarter. AlphaQuest LLC now owns 4,212 shares of the company’s stock worth $207,000 after acquiring an additional 789 shares in the last quarter. Institutional investors and hedge funds own 63.56% of the company’s stock.

Red Violet Price Performance

Shares of Red Violet stock opened at $42.32 on Thursday. The business has a fifty day simple moving average of $49.78 and a two-hundred day simple moving average of $50.74. Red Violet, Inc. has a 1 year low of $32.23 and a 1 year high of $64.14. The company has a market capitalization of $596.29 million, a price-to-earnings ratio of 54.96 and a beta of 1.66.

Analyst Upgrades and Downgrades

RDVT has been the topic of a number of research reports. Lake Street Capital reissued a “buy” rating and issued a $62.00 price objective on shares of Red Violet in a research report on Thursday, November 6th. Wall Street Zen cut shares of Red Violet from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Zacks Research cut Red Violet from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings downgraded Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. Finally, B. Riley Financial increased their price target on Red Violet from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Red Violet Company Profile

Red Violet, Inc (NASDAQ: RDVT) is a provider of advanced data, analytics and technology solutions designed to help organizations mitigate financial crime, fraud and security risks. The company’s cloud-native platform consolidates and enriches data from proprietary, public and third-party sources, applying artificial intelligence and machine learning to deliver insights across the risk-management lifecycle. Red Violet’s suite of services includes behavior-based transaction monitoring, automated watchlist and negative-news screening, enhanced due diligence and real-time geospatial threat intelligence.

Leveraging proprietary algorithms, Red Violet offers products that enable compliance teams to streamline anti-money laundering processes, improve fraud detection and respond swiftly to emerging threats.