Red Violet (NASDAQ:RDVT) Upgraded by Raymond James Financial to “Moderate Buy” Rating

Raymond James Financial upgraded shares of Red Violet (NASDAQ:RDVT) to a moderate buy rating in a research note released on Thursday,Zacks reports.

Several other brokerages have also recently issued reports on RDVT. Needham & Company LLC began coverage on Red Violet in a report on Tuesday, September 1st. They issued a “buy” rating and a $90.00 price objective for the company. Weiss Ratings cut Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 11th. Lake Street Capital raised their price objective on shares of Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Red Violet from a “buy” rating to a “hold” rating in a report on Saturday. Finally, B. Riley Financial boosted their target price on shares of Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Red Violet presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

Red Violet Stock Down 1.5%

Shares of NASDAQ:RDVT opened at $75.94 on Thursday. Red Violet has a 52-week low of $33.40 and a 52-week high of $80.29. The business has a 50-day moving average price of $70.12 and a 200-day moving average price of $55.38. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 67.80 and a beta of 1.81.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings data 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 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%. As a group, equities analysts anticipate that Red Violet will post 1.16 EPS for the current fiscal year.

Insider Buying and Selling at Red Violet

In related news, Director William Livek purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average price of $71.49 per share, with a total value of $142,980.00. Following the purchase, the director owned 22,733 shares of the company’s stock, valued at $1,625,182.17. The trade was a 9.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.90% of the stock is currently owned by insiders.

Institutional Trading of Red Violet

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Red Violet in the 2nd quarter worth about $60,582,000. Wasatch Advisors LP boosted its stake in shares of Red Violet by 13.8% in the first quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock worth $31,543,000 after acquiring an additional 110,421 shares during the last quarter. Ashford Capital Management Inc. boosted its stake in shares of Red Violet by 13.9% in the first quarter. Ashford Capital Management Inc. now owns 686,816 shares of the company’s stock worth $23,764,000 after acquiring an additional 83,998 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Red Violet by 18.4% during the first quarter. Dimensional Fund Advisors LP now owns 206,698 shares of the company’s stock worth $7,151,000 after purchasing an additional 32,189 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Red Violet by 16.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock valued at $5,703,000 after purchasing an additional 23,816 shares during the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Red Violet Company Profile

Red Violet, Inc (NASDAQ: RDVT) is a technology company that provides data analytics and identity intelligence solutions. Its cloud-based platforms help organizations search, analyze and connect information from public and proprietary data sources to support investigations, risk management, fraud prevention and other decision-making processes.

The company’s products include idiCORE, an investigative and information platform designed for applications such as identity verification, collections, fraud detection and due diligence.