Red Violet, Inc. $RDVT Shares Purchased by Calamos Advisors LLC

Calamos Advisors LLC increased its holdings in shares of Red Violet, Inc. (NASDAQ:RDVT) by 14.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 41,765 shares of the company’s stock after acquiring an additional 5,162 shares during the quarter. Calamos Advisors LLC’s holdings in Red Violet were worth $2,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in RDVT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Red Violet by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock worth $248,000 after purchasing an additional 312 shares during the period. Rhumbline Advisers boosted its stake in shares of Red Violet by 2.5% in the first quarter. Rhumbline Advisers now owns 16,304 shares of the company’s stock worth $613,000 after buying an additional 393 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Red Violet during the second quarter worth about $25,000. Bard Associates Inc. grew its holdings in Red Violet by 6.7% during the first quarter. Bard Associates Inc. now owns 8,822 shares of the company’s stock worth $332,000 after acquiring an additional 554 shares during the period. Finally, AlphaQuest LLC raised its position in Red Violet by 23.0% during the second quarter. AlphaQuest LLC now owns 4,212 shares of the company’s stock valued at $207,000 after acquiring an additional 789 shares in the last quarter. 63.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Red Violet

In other news, CFO Daniel Maclachlan sold 1,711 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $56.95, for a total transaction of $97,441.45. Following the completion of the sale, the chief financial officer owned 358,163 shares of the company’s stock, valued at $20,397,382.85. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President James Patrick Reilly sold 1,711 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $56.95, for a total transaction of $97,441.45. Following the transaction, the president owned 231,078 shares of the company’s stock, valued at approximately $13,159,892.10. This trade represents a 0.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,000 shares of company stock worth $3,182,463 in the last ninety days. 8.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RDVT shares. Lake Street Capital restated a “buy” rating and issued a $62.00 price objective on shares of Red Violet in a research report on Thursday, November 6th. Wall Street Zen raised shares of Red Violet from a “hold” rating to a “strong-buy” rating in a report on Sunday, November 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Red Violet in a report on Wednesday, October 8th. Finally, B. Riley raised their price target on shares of Red Violet from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Red Violet Price Performance

Shares of RDVT stock opened at $57.51 on Friday. Red Violet, Inc. has a 1-year low of $32.23 and a 1-year high of $64.14. The company has a market cap of $803.41 million, a price-to-earnings ratio of 74.69 and a beta of 1.76. The stock has a 50 day simple moving average of $52.56 and a 200-day simple moving average of $48.52.

Red Violet (NASDAQ:RDVT) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The firm had revenue of $23.08 million for the quarter, compared to analysts’ expectations of $22.64 million. Red Violet had a net margin of 12.96% and a return on equity of 12.26%. Analysts anticipate that Red Violet, Inc. will post 0.51 earnings per share for the current fiscal year.

About Red Violet

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.