Ieq Capital LLC Takes $581,000 Position in Red Violet, Inc. $RDVT

Ieq Capital LLC purchased a new position in shares of Red Violet, Inc. (NASDAQ:RDVT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,124 shares of the company’s stock, valued at approximately $581,000. Ieq Capital LLC owned about 0.06% of Red Violet as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RDVT. EverSource Wealth Advisors LLC raised its holdings 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 valued at $27,000 after acquiring an additional 377 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Red Violet by 145.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock worth $32,000 after acquiring an additional 336 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Red Violet by 160.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock worth $51,000 after acquiring an additional 636 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Red Violet during the fourth quarter worth approximately $103,000. Finally, Legal & General Group Plc raised its stake in Red Violet by 143.5% in the 2nd quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock valued at $142,000 after purchasing an additional 1,702 shares during the last quarter. Institutional investors and hedge funds own 63.56% of the company’s stock.

Analyst Upgrades and Downgrades

RDVT has been the topic of several recent research reports. B. Riley Financial lifted their target price on shares of Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Lake Street Capital boosted their price target 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. Finally, Wall Street Zen raised shares of Red Violet from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Red Violet presently has an average rating of “Moderate Buy” and an average target price of $77.00.

Red Violet Stock Up 1.8%

Shares of RDVT opened at $73.30 on Friday. Red Violet, Inc. has a 52-week low of $33.40 and a 52-week high of $74.82. The company has a market capitalization of $1.18 billion, a PE ratio of 65.45 and a beta of 1.83. The stock has a fifty day simple moving average of $66.37 and a two-hundred day simple moving average of $51.87.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.17. Red Violet had a net margin of 16.54% and a return on equity of 16.12%. The firm had revenue of $26.72 million for the quarter, compared to analysts’ expectations of $25.62 million. As a group, equities analysts anticipate that Red Violet, Inc. will post 1.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Derek Dubner sold 12,000 shares of Red Violet stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $57.43, for a total transaction of $689,160.00. Following the sale, the chief executive officer owned 557,273 shares of the company’s stock, valued at approximately $32,004,188.39. The trade was a 2.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Maclachlan sold 12,000 shares of the company’s stock in a transaction that occurred 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 financial officer owned 358,902 shares in the company, valued at $20,611,741.86. This represents a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 46,000 shares of company stock worth $2,641,880. 8.90% of the stock is currently owned by company insiders.

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.