Hillsdale Investment Management Inc. Lowers Holdings in Red Violet, Inc. $RDVT

Hillsdale Investment Management Inc. reduced its position in Red Violet, Inc. (NASDAQ:RDVT) by 27.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 65,000 shares of the company’s stock after selling 24,600 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.47% of Red Violet worth $3,396,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in shares of Red Violet during the third quarter worth about $33,000. Tower Research Capital LLC TRC boosted its holdings 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 purchasing an additional 636 shares in the last quarter. Legal & General Group Plc increased 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 purchasing an additional 1,702 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of Red Violet during the 3rd quarter worth approximately $201,000. Finally, AlphaQuest LLC raised 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 buying an additional 789 shares in the last quarter. Institutional investors and hedge funds own 63.56% of the company’s stock.

Analysts Set New Price Targets

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

Red Violet Stock Up 0.7%

Shares of RDVT stock opened at $42.61 on Monday. The stock has a market cap of $600.37 million, a P/E ratio of 55.34 and a beta of 1.66. Red Violet, Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $64.14. The business has a fifty day simple moving average of $49.32 and a 200-day simple moving average of $50.76.

Red Violet 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.