Insider Selling: Red Violet (NASDAQ:RDVT) President Sells 12,000 Shares of Stock

Red Violet, Inc. (NASDAQ:RDVT) President James Patrick Reilly sold 12,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $57.43, for a total transaction of $689,160.00. Following the transaction, the president directly owned 232,351 shares of the company’s stock, valued at approximately $13,343,917.93. This represents a 4.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Red Violet Trading Up 4.3%

Red Violet stock traded up $2.46 on Monday, reaching $59.30. 418,289 shares of the stock were exchanged, compared to its average volume of 165,628. The stock has a market cap of $836.72 million, a PE ratio of 61.77 and a beta of 1.85. Red Violet, Inc. has a twelve month low of $33.40 and a twelve month high of $64.14. The firm has a fifty day moving average price of $42.30 and a two-hundred day moving average price of $46.77.

Red Violet (NASDAQ:RDVT) last released its earnings results on Wednesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.14. The firm had revenue of $25.83 million during the quarter, compared to analyst estimates of $24.63 million. Red Violet had a net margin of 14.99% and a return on equity of 14.30%. Equities analysts anticipate that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Ashford Capital Management Inc. raised its position in 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 purchasing an additional 83,998 shares in the last quarter. Quantinno Capital Management LP acquired a new position in Red Violet in the first quarter worth about $526,000. Renaissance Technologies LLC raised its position in Red Violet by 581.8% in the first quarter. Renaissance Technologies LLC now owns 113,450 shares of the company’s stock worth $3,925,000 after purchasing an additional 96,810 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Red Violet by 16.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock worth $5,703,000 after purchasing an additional 23,816 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Red Violet by 18.4% in 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. Institutional investors and hedge funds own 63.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RDVT shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Red Violet in a research report on Friday, May 8th. Wall Street Zen lowered shares of Red Violet from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Red Violet has an average rating of “Moderate Buy” and an average price target of $62.00.

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.