Sierra Summit Advisors LLC Takes $859,000 Position in Red Violet, Inc. $RDVT

Sierra Summit Advisors LLC acquired a new stake in Red Violet, Inc. (NASDAQ:RDVT) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,446 shares of the company’s stock, valued at approximately $859,000. Sierra Summit Advisors LLC owned about 0.12% of Red Violet at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Red Violet by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock valued at $248,000 after acquiring an additional 312 shares during the period. Prudential Financial Inc. grew its stake in shares of Red Violet by 0.8% in the second quarter. Prudential Financial Inc. now owns 39,407 shares of the company’s stock worth $1,939,000 after purchasing an additional 332 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Red Violet by 12.5% in the second quarter. Osaic Holdings Inc. now owns 4,486 shares of the company’s stock worth $221,000 after purchasing an additional 500 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Red Violet in the third quarter valued at $33,000. Finally, Tower Research Capital LLC TRC raised its position in Red Violet by 160.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock worth $51,000 after purchasing an additional 636 shares during the last quarter. 63.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings lowered Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. Zacks Research cut Red Violet from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Lake Street Capital reissued a “buy” rating and set a $62.00 target price on shares of Red Violet in a research report on Thursday, November 6th. Finally, Wall Street Zen downgraded shares of Red Violet from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Red Violet currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Red Violet Stock Performance

Shares of RDVT stock opened at $43.31 on Monday. Red Violet, Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $64.14. The stock has a 50 day simple moving average of $48.05 and a two-hundred day simple moving average of $50.74. The company has a market cap of $610.15 million, a P/E ratio of 56.25 and a beta of 1.66.

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.