Red Violet, Inc. $RDVT Position Increased by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Red Violet, Inc. (NASDAQ:RDVT) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 956,443 shares of the company’s stock after acquiring an additional 23,736 shares during the period. Vanguard Group Inc. owned about 6.79% of Red Violet worth $54,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in Red Violet during the third quarter valued at about $33,000. Tower Research Capital LLC TRC raised its holdings in Red Violet by 160.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock valued at $51,000 after buying an additional 636 shares in the last quarter. Legal & General Group Plc raised its holdings in Red Violet by 143.5% during the second quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock valued at $142,000 after buying an additional 1,702 shares in the last quarter. JT Stratford LLC bought a new position in Red Violet during the third quarter valued at about $201,000. Finally, Envestnet Asset Management Inc. bought a new position in Red Violet during the third quarter valued at about $201,000. 63.56% of the stock is currently owned by institutional investors.

Red Violet Stock Performance

Red Violet stock opened at $46.93 on Friday. The business’s 50-day simple moving average is $39.99 and its 200-day simple moving average is $47.02. The firm has a market capitalization of $662.18 million, a PE ratio of 48.89 and a beta of 1.71. Red Violet, Inc. has a 52 week low of $33.40 and a 52 week high of $64.14.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.14. The business had revenue of $25.83 million for the quarter, compared to analyst estimates of $24.63 million. Red Violet had a return on equity of 14.30% and a net margin of 14.99%. Research analysts forecast that Red Violet, Inc. will post 1.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RDVT shares. Zacks Research lowered Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Red Violet in a report on Friday, May 8th. Finally, Wall Street Zen lowered Red Violet from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.00.

Red Violet Company 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.