Red Violet, Inc. (NASDAQ:RDVT – Get Free Report)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $68.28 and last traded at $68.5010, with a volume of 72036 shares changing hands. The stock had previously closed at $65.52.
Analysts Set New Price Targets
RDVT has been the topic of several analyst reports. Zacks Research cut Red Violet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen upgraded Red Violet from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Red Violet in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Red Violet has a consensus rating of “Moderate Buy” and an average target price of $62.00.
Check Out Our Latest Analysis on RDVT
Red Violet Trading Down 3.3%
Red Violet (NASDAQ:RDVT – Get Free Report) last posted its quarterly earnings data 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. Red Violet had a net margin of 14.99% and a return on equity of 14.30%. The company had revenue of $25.83 million for the quarter, compared to analyst estimates of $24.63 million. As a group, analysts anticipate that Red Violet, Inc. will post 1.06 EPS for the current year.
Insiders Place Their Bets
In other news, President James Patrick Reilly sold 12,000 shares of Red Violet 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 completion of the sale, the president directly owned 232,351 shares in the company, valued at approximately $13,343,917.93. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Derek Dubner sold 12,000 shares of Red Violet stock in a transaction on Monday, June 1st. The stock was sold at an average price of $57.43, for a total value of $689,160.00. Following the sale, the chief executive officer owned 557,273 shares of the company’s stock, valued at approximately $32,004,188.39. This trade represents a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 46,000 shares of company stock worth $2,641,880 in the last 90 days. 8.90% of the stock is owned by insiders.
Institutional Investors Weigh In On Red Violet
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming raised its stake in shares of Red Violet by 5.4% during the fourth quarter. State of Wyoming now owns 5,430 shares of the company’s stock valued at $309,000 after acquiring an additional 279 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Red Violet by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock valued at $248,000 after acquiring an additional 312 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Red Violet by 145.5% in 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 grew its holdings in Red Violet by 414.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock worth $27,000 after acquiring an additional 377 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Red Violet by 4.9% during the 4th quarter. Deutsche Bank AG now owns 9,116 shares of the company’s stock worth $519,000 after acquiring an additional 426 shares in the last quarter. Institutional investors own 63.56% of the company’s stock.
Red Violet Company Profile
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.
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