Man Group plc Purchases Shares of 41,087 Red Violet, Inc. $RDVT

Man Group plc purchased a new position in Red Violet, Inc. (NASDAQ:RDVT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 41,087 shares of the company’s stock, valued at approximately $2,618,000.

A number of other large investors have also modified their holdings of RDVT. BlackRock Inc. acquired a new position in Red Violet during the 2nd quarter valued at approximately $60,582,000. Royal Bank of Canada lifted its stake in shares of Red Violet by 247.4% during the fourth quarter. Royal Bank of Canada now owns 282,480 shares of the company’s stock worth $16,088,000 after buying an additional 201,169 shares during the period. Wasatch Advisors LP lifted its stake in shares of Red Violet by 13.8% during the first quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock worth $31,543,000 after buying an additional 110,421 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Red Violet during the first quarter worth $3,826,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Red Violet by 581.8% during the first quarter. Renaissance Technologies LLC now owns 113,450 shares of the company’s stock valued at $3,925,000 after buying an additional 96,810 shares during the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RDVT. B. Riley Financial raised their target price on 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 Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Zacks Research lowered Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Lake Street Capital raised their price objective on Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised Red Violet from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Red Violet currently has an average rating of “Moderate Buy” and an average target price of $77.00.

Insider Buying and Selling at Red Violet

In related news, Director William Paul Livek acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was acquired at an average price of $71.49 per share, with a total value of $142,980.00. Following the acquisition, the director directly owned 22,733 shares in the company, valued at $1,625,182.17. This represents a 9.65% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.90% of the company’s stock.

Red Violet Price Performance

NASDAQ:RDVT opened at $73.16 on Tuesday. The firm has a market capitalization of $1.17 billion, a P/E ratio of 65.32 and a beta of 1.82. Red Violet, Inc. has a 1-year low of $33.40 and a 1-year high of $74.82. The company’s fifty day moving average price is $66.75 and its 200-day moving average price is $52.17.

Red Violet (NASDAQ:RDVT) last posted its earnings results on Monday, August 10th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.17. Red Violet had a net margin of 16.54% and a return on equity of 16.12%. The company had revenue of $26.72 million during the quarter, compared to the consensus estimate of $25.62 million. Equities analysts anticipate that Red Violet, Inc. 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.