Red Violet, Inc. (NASDAQ:RDVT – Get Free Report)’s stock price traded down 5% on Friday . The stock traded as low as $70.00 and last traded at $70.0450. Approximately 38,875 shares were traded during mid-day trading, a decline of 76% from the average session volume of 160,530 shares. The stock had previously closed at $73.74.
Analyst Ratings Changes
Several research firms have commented on RDVT. Zacks Research cut shares of Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Red Violet in a report on Wednesday, August 5th. Lake Street Capital lifted their price objective on shares of Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen downgraded shares of Red Violet from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, B. Riley Financial increased their target price on Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Red Violet currently has a consensus rating of “Moderate Buy” and an average price target of $77.00.
Read Our Latest Research Report on Red Violet
Red Violet Stock Down 6.1%
Red Violet (NASDAQ:RDVT – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.33 by $0.17. Red Violet had a net margin of 16.54% and a return on equity of 16.48%. The firm had revenue of $26.72 million for the quarter, compared to analyst estimates of $25.62 million. Sell-side analysts predict that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.
Insider Transactions at Red Violet
In other news, CFO Daniel Maclachlan sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $57.43, for a total transaction of $689,160.00. Following the transaction, the chief financial officer directly owned 358,902 shares in the company, valued at approximately $20,611,741.86. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President James Patrick Reilly sold 12,000 shares of Red Violet stock in a transaction on Monday, June 1st. The shares were sold at an average price of $57.43, for a total transaction of $689,160.00. Following the completion of the transaction, the president directly owned 232,351 shares in the company, valued at $13,343,917.93. The trade was a 4.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 46,000 shares of company stock valued at $2,641,880 over the last quarter. Company insiders own 8.90% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of RDVT. EverSource Wealth Advisors LLC boosted its stake in shares of Red Violet by 414.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock worth $27,000 after buying an additional 377 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Red Violet by 145.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock valued at $32,000 after acquiring an additional 336 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Red Violet by 160.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock valued at $51,000 after acquiring an additional 636 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Red Violet during the 4th quarter worth approximately $103,000. Finally, State of Alaska Department of Revenue lifted its position in Red Violet by 203.9% during the 4th quarter. State of Alaska Department of Revenue now owns 1,933 shares of the company’s stock worth $109,000 after acquiring an additional 1,297 shares during the period. 63.56% of the stock is owned by hedge funds and other institutional investors.
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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