Red Violet (NASDAQ:RDVT) Director Acquires $142,980.00 in Stock

Red Violet, Inc. (NASDAQ:RDVT) Director William Paul Livek bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average price of $71.49 per share, for a total transaction of $142,980.00. Following the acquisition, the director owned 22,733 shares of the company’s stock, valued at $1,625,182.17. This trade represents a 9.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Red Violet Trading Up 1.8%

Shares of RDVT opened at $73.30 on Friday. The firm’s fifty day simple moving average is $66.37 and its two-hundred day simple moving average is $51.87. Red Violet, Inc. has a 12 month low of $33.40 and a 12 month high of $74.82. The stock has a market capitalization of $1.18 billion, a P/E ratio of 65.45 and a beta of 1.83.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.17. The firm had revenue of $26.72 million during the quarter, compared to analyst estimates of $25.62 million. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. As a group, research analysts predict that Red Violet, Inc. will post 1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Red Violet

A number of hedge funds have recently added to or reduced their stakes in RDVT. California State Teachers Retirement System increased its holdings in shares of Red Violet by 1,547.8% during the second quarter. California State Teachers Retirement System now owns 10,068 shares of the company’s stock valued at $642,000 after acquiring an additional 9,457 shares in the last quarter. Susquehanna International Group LLP grew its position in Red Violet by 273.5% in the 2nd quarter. Susquehanna International Group LLP now owns 21,729 shares of the company’s stock valued at $1,385,000 after purchasing an additional 15,912 shares during the period. Bank of America Corp DE acquired a new stake in Red Violet in the 2nd quarter valued at $1,180,000. Man Group plc bought a new stake in Red Violet during the 2nd quarter valued at $2,618,000. Finally, Hsbc Holdings PLC bought a new stake in Red Violet during the 2nd quarter valued at $763,000. Institutional investors and hedge funds own 63.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RDVT shares. Zacks Research lowered Red Violet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Lake Street Capital raised their price objective on shares of Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. B. Riley Financial lifted their price objective on shares of Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings raised shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.00.

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.