Red Violet (NASDAQ:RDVT) CEO Derek Dubner Sells 12,000 Shares

Red Violet, Inc. (NASDAQ:RDVT) CEO Derek Dubner sold 12,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $57.43, for a total value of $689,160.00. Following the completion of the sale, the chief executive officer owned 557,273 shares in the company, valued at approximately $32,004,188.39. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Red Violet Stock Up 4.3%

Red Violet stock traded up $2.46 during midday trading on Monday, reaching $59.30. The company’s stock had a trading volume of 418,289 shares, compared to its average volume of 165,628. Red Violet, Inc. has a fifty-two week low of $33.40 and a fifty-two week high of $64.14. The company has a market cap of $836.72 million, a P/E ratio of 61.77 and a beta of 1.85. The business has a 50-day simple moving average of $42.30 and a 200-day simple moving average of $46.77.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.14. Red Violet had a return on equity of 14.30% and a net margin of 14.99%.The company had revenue of $25.83 million for the quarter, compared to analysts’ expectations of $24.63 million. As a group, equities analysts forecast that Red Violet, Inc. will post 1.06 earnings per share for the current year.

Institutional Trading of Red Violet

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Red Violet by 247.4% during the fourth quarter. Royal Bank of Canada now owns 282,480 shares of the company’s stock worth $16,088,000 after buying an additional 201,169 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of Red Violet by 13.8% during the first quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock worth $31,543,000 after buying an additional 110,421 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Red Violet during the first quarter worth about $3,826,000. Renaissance Technologies LLC grew its holdings in shares of Red Violet by 581.8% during the first quarter. Renaissance Technologies LLC now owns 113,450 shares of the company’s stock worth $3,925,000 after buying an additional 96,810 shares during the last quarter. Finally, Ashford Capital Management Inc. grew its holdings in shares of Red Violet by 13.9% during the first quarter. Ashford Capital Management Inc. now owns 686,816 shares of the company’s stock worth $23,764,000 after buying an additional 83,998 shares during the last quarter. Institutional investors and hedge funds own 63.56% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen cut Red Violet from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research cut Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Red Violet in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.