Principal Financial Group Inc. Has $930,000 Stock Holdings in Red Violet, Inc. $RDVT

Principal Financial Group Inc. lifted its position in shares of Red Violet, Inc. (NASDAQ:RDVT) by 227.0% in the third quarter, HoldingsChannel.com reports. The fund owned 17,796 shares of the company’s stock after buying an additional 12,353 shares during the period. Principal Financial Group Inc.’s holdings in Red Violet were worth $930,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RDVT. State of Alaska Department of Revenue bought a new position in shares of Red Violet in the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC boosted 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 buying an additional 636 shares during the period. 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 buying an additional 1,702 shares during the period. AlphaQuest LLC grew its holdings in 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 during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Red Violet in the 2nd quarter valued at approximately $212,000. Institutional investors and hedge funds own 63.56% of the company’s stock.

Red Violet Price Performance

NASDAQ RDVT opened at $42.32 on Thursday. The stock has a market capitalization of $596.29 million, a P/E ratio of 54.96 and a beta of 1.66. The business has a 50 day simple moving average of $49.78 and a 200 day simple moving average of $50.74. Red Violet, Inc. has a one year low of $32.23 and a one year high of $64.14.

Analyst Ratings Changes

RDVT has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a report 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. 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 note on Friday, October 31st. Lake Street Capital restated a “buy” rating and set a $62.00 price objective on shares of Red Violet in a research report on Thursday, November 6th. Finally, Wall Street Zen cut Red Violet from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.00.

About Red Violet

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.