Sierra Summit Advisors LLC Buys New Holdings in Red Violet, Inc. $RDVT

Sierra Summit Advisors LLC acquired a new stake in Red Violet, Inc. (NASDAQ:RDVT) in the third quarter, Holdings Channel reports. The fund acquired 16,446 shares of the company’s stock, valued at approximately $859,000.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in Red Violet during the 1st quarter worth approximately $3,826,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Red Violet by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock worth $248,000 after buying an additional 312 shares in the last quarter. AlphaQuest LLC raised its position in Red Violet by 23.0% in the 2nd quarter. AlphaQuest LLC now owns 4,212 shares of the company’s stock valued at $207,000 after buying an additional 789 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Red Violet by 11.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 58,073 shares of the company’s stock valued at $2,857,000 after acquiring an additional 6,036 shares in the last quarter. Finally, Aviva PLC purchased a new position in Red Violet during the 2nd quarter worth $480,000. 63.56% of the stock is owned by institutional investors and hedge funds.

Red Violet Stock Performance

NASDAQ RDVT opened at $43.31 on Monday. The company has a market capitalization of $610.15 million, a PE ratio of 56.25 and a beta of 1.66. Red Violet, Inc. has a 52-week low of $32.23 and a 52-week high of $64.14. The company has a 50-day simple moving average of $48.05 and a 200 day simple moving average of $50.74.

Wall Street Analyst Weigh In

RDVT has been the subject of several analyst reports. Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings lowered shares of Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. Lake Street Capital restated a “buy” rating and issued a $62.00 target price on shares of Red Violet in a research note on Thursday, November 6th. Finally, Wall Street Zen lowered Red Violet from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.00.

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.