USA Financial Formulas Acquires New Shares in Red Violet, Inc. $RDVT

USA Financial Formulas bought a new position in Red Violet, Inc. (NASDAQ:RDVT) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,467 shares of the company’s stock, valued at approximately $121,000.

Other large investors have also recently bought and sold shares of the company. Pembroke Management LTD grew its holdings in shares of Red Violet by 740.2% during the first quarter. Pembroke Management LTD now owns 252,503 shares of the company’s stock worth $9,492,000 after purchasing an additional 222,451 shares during the last quarter. New York State Common Retirement Fund boosted its position in Red Violet by 2,428.0% during the 1st quarter. New York State Common Retirement Fund now owns 106,024 shares of the company’s stock worth $3,985,000 after buying an additional 101,830 shares during the period. AQR Capital Management LLC bought a new stake in Red Violet during the 1st quarter worth approximately $3,826,000. Invesco Ltd. increased its position in Red Violet by 930.3% in the 1st quarter. Invesco Ltd. now owns 70,259 shares of the company’s stock valued at $2,641,000 after acquiring an additional 63,440 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Red Violet by 52.0% in the 1st quarter. Russell Investments Group Ltd. now owns 152,374 shares of the company’s stock valued at $5,728,000 after acquiring an additional 52,130 shares during the period. 63.56% of the stock is currently owned by institutional investors.

Red Violet Trading Down 4.3%

Shares of Red Violet stock opened at $50.62 on Friday. The business has a 50-day moving average price of $47.72 and a two-hundred day moving average price of $45.09. Red Violet, Inc. has a 1-year low of $25.37 and a 1-year high of $54.19. The company has a market cap of $707.67 million, a P/E ratio of 84.37 and a beta of 1.70.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RDVT. Wall Street Zen upgraded shares of Red Violet from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Lake Street Capital assumed coverage on Red Violet in a report on Monday, August 4th. They set a “buy” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $60.00.

Red Violet Company Profile

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.