Red Violet, Inc. (NASDAQ:RDVT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Red Violet, Inc. (NASDAQ:RDVT) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $77.00.

A number of analysts have recently weighed in on RDVT shares. B. Riley Financial raised their price objective on Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Needham & Company LLC began coverage on shares of Red Violet in a research report on Tuesday. They issued a “buy” rating for the company. 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. Zacks Research lowered shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Lake Street Capital raised their price target on shares of Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th.

Insider Buying and Selling

In other news, Director William Paul Livek purchased 2,000 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were acquired at an average price of $71.49 per share, for a total transaction of $142,980.00. Following the purchase, the director owned 22,733 shares in the company, valued at $1,625,182.17. This trade represents a 9.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Red Violet

A number of large investors have recently bought and sold shares of the company. State of Wyoming raised its position in Red Violet by 5.4% during the 4th 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 worth $248,000 after acquiring an additional 312 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Red Violet by 145.5% during 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 period. EverSource Wealth Advisors LLC raised its position in 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 in the last quarter. Finally, Deutsche Bank AG raised its position in Red Violet by 4.9% during the fourth quarter. Deutsche Bank AG now owns 9,116 shares of the company’s stock valued at $519,000 after acquiring an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Red Violet Price Performance

NASDAQ:RDVT opened at $73.16 on Tuesday. The firm has a market cap of $1.17 billion, a PE ratio of 65.32 and a beta of 1.82. The company has a 50-day moving average of $66.75 and a 200 day moving average of $52.17. Red Violet has a 1-year low of $33.40 and a 1-year high of $74.82.

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, topping the consensus estimate of $0.33 by $0.17. The firm had revenue of $26.72 million during the quarter, compared to analysts’ expectations of $25.62 million. Red Violet had a net margin of 16.54% and a return on equity of 16.12%. Sell-side analysts anticipate that Red Violet will post 1.16 EPS for the current fiscal year.

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.