Red Violet (NASDAQ:RDVT) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Red Violet (NASDAQ:RDVT) from a hold rating to a buy rating in a research report released on Saturday morning.

Other research analysts also recently issued reports about the stock. Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Red Violet in a report on Wednesday, August 5th. Lake Street Capital upped 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. Finally, B. Riley Financial boosted their price target on Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Red Violet has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Red Violet Price Performance

NASDAQ:RDVT opened at $69.78 on Friday. The business’s 50-day moving average is $63.29 and its two-hundred day moving average is $50.06. The firm has a market capitalization of $1.12 billion, a PE ratio of 62.30 and a beta of 1.83. Red Violet has a 12 month low of $33.40 and a 12 month high of $74.20.

Red Violet (NASDAQ:RDVT) last announced its earnings results on Monday, August 10th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.33 by $0.17. The business had revenue of $26.72 million for the quarter, compared to the consensus estimate of $25.62 million. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. Equities analysts anticipate that Red Violet will post 1.06 EPS for the current year.

Insider Transactions at Red Violet

In other Red Violet news, CEO Derek Dubner sold 12,000 shares of Red Violet 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 transaction, the chief executive officer owned 557,273 shares of the company’s stock, valued at $32,004,188.39. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeffrey Alan Dell sold 10,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $57.44, for a total transaction of $574,400.00. Following the sale, the insider owned 155,889 shares of the company’s stock, valued at approximately $8,954,264.16. The trade was a 6.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 46,000 shares of company stock valued at $2,641,880. Company insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Red Violet

Several institutional investors have recently made changes to their positions in RDVT. State of Wyoming increased its position in Red Violet by 5.4% in the fourth quarter. State of Wyoming now owns 5,430 shares of the company’s stock worth $309,000 after buying an additional 279 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Red Violet by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock valued at $248,000 after acquiring an additional 312 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Red Violet by 145.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock valued at $32,000 after acquiring an additional 336 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Red Violet by 414.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock worth $27,000 after acquiring an additional 377 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Red Violet by 4.9% during the fourth quarter. Deutsche Bank AG now owns 9,116 shares of the company’s stock worth $519,000 after acquiring an additional 426 shares during the last quarter. 63.56% of the stock is owned by institutional investors.

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.