Red Violet (NASDAQ:RDVT) Shares Down 4.5% – Time to Sell?

Red Violet, Inc. (NASDAQ:RDVT) traded down 4.5% on Wednesday . The stock traded as low as $73.16 and last traded at $72.18. 68,431 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 166,496 shares. The stock had previously closed at $75.56.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wall Street Zen raised Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Lake Street Capital increased their price objective on shares of Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. B. Riley Financial boosted their target price on shares of Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Finally, Needham & Company LLC started coverage on shares of Red Violet in a report on Tuesday. They set a “buy” rating and a $90.00 price target for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.33.

Red Violet Price Performance

The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 64.48 and a beta of 1.82. The firm’s fifty day moving average is $67.15 and its 200-day moving average is $52.41.

Red Violet (NASDAQ:RDVT) last announced 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 company had revenue of $26.72 million during the quarter, compared to analyst estimates of $25.62 million. Red Violet had a net margin of 16.54% and a return on equity of 16.12%. On average, sell-side analysts expect that Red Violet, Inc. will post 1.16 EPS for the current year.

Insider Buying and Selling

In other news, Director William Paul Livek bought 2,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $71.49 per share, for a total transaction of $142,980.00. Following the transaction, the director owned 22,733 shares in the company, valued at $1,625,182.17. The trade was a 9.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 8.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RDVT. State of Wyoming boosted its stake in Red Violet by 5.4% in the fourth quarter. State of Wyoming now owns 5,430 shares of the company’s stock valued at $309,000 after acquiring an additional 279 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 worth $248,000 after purchasing an additional 312 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Red Violet by 145.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock worth $32,000 after purchasing an additional 336 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Red Violet by 414.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock worth $27,000 after purchasing an additional 377 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Red Violet by 4.9% during the 4th quarter. Deutsche Bank AG now owns 9,116 shares of the company’s stock valued at $519,000 after purchasing an additional 426 shares during the period. 63.56% of the stock is owned by institutional investors and hedge funds.

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.