Red Violet (NASDAQ:RDVT) Stock Price Up 3.6% – What’s Next?

Red Violet, Inc. (NASDAQ:RDVT) shares rose 3.6% during trading on Monday . The stock traded as high as $57.46 and last traded at $57.2020. Approximately 36,893 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 96,684 shares. The stock had previously closed at $55.23.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. B. Riley upped their price target on shares of Red Violet from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Red Violet in a report on Monday, December 22nd. Wall Street Zen raised Red Violet from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 9th. Finally, Lake Street Capital reissued a “buy” rating and set a $62.00 price target on shares of Red Violet in a research report on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Red Violet presently has an average rating of “Buy” and a consensus target price of $62.00.

Red Violet Trading Up 3.8%

The firm has a market capitalization of $807.92 million, a PE ratio of 74.47 and a beta of 1.67. The firm’s fifty day moving average price is $54.77 and its 200 day moving average price is $50.53.

Red Violet (NASDAQ:RDVT) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Red Violet had a return on equity of 12.26% and a net margin of 12.96%.The firm had revenue of $23.08 million during the quarter, compared to analysts’ expectations of $22.64 million. As a group, research analysts expect that Red Violet, Inc. will post 0.51 EPS for the current year.

Insider Transactions at Red Violet

In other news, CFO Daniel Maclachlan sold 1,711 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $56.95, for a total transaction of $97,441.45. Following the transaction, the chief financial officer owned 358,163 shares in the company, valued at approximately $20,397,382.85. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President James Patrick Reilly sold 1,711 shares of Red Violet stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $56.95, for a total transaction of $97,441.45. Following the completion of the sale, the president directly owned 231,078 shares of the company’s stock, valued at approximately $13,159,892.10. The trade was a 0.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 55,000 shares of company stock worth $3,182,463. 8.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Red Violet by 4.2% during the third quarter. Vanguard Group Inc. now owns 932,707 shares of the company’s stock valued at $48,734,000 after acquiring an additional 37,622 shares during the period. Wasatch Advisors LP lifted its position in shares of Red Violet by 10.4% during the 3rd quarter. Wasatch Advisors LP now owns 888,857 shares of the company’s stock worth $46,443,000 after purchasing an additional 83,831 shares during the last quarter. Ashford Capital Management Inc. lifted its position in shares of Red Violet by 1.3% during the 2nd quarter. Ashford Capital Management Inc. now owns 593,514 shares of the company’s stock worth $29,201,000 after purchasing an additional 7,610 shares during the last quarter. Brown Capital Management LLC boosted its stake in Red Violet by 31.3% during the 2nd quarter. Brown Capital Management LLC now owns 469,340 shares of the company’s stock valued at $23,092,000 after purchasing an additional 111,908 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Red Violet by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 273,818 shares of the company’s stock valued at $13,475,000 after buying an additional 12,102 shares during the last quarter. 63.56% of the stock is currently owned by institutional investors and hedge funds.

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.