Renaissance Technologies LLC raised its position in Red Violet, Inc. (NASDAQ:RDVT – Free Report) by 581.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,450 shares of the company’s stock after acquiring an additional 96,810 shares during the quarter. Renaissance Technologies LLC’s holdings in Red Violet were worth $3,925,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in shares of Red Violet during the 1st quarter valued at about $3,826,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $248,000 after buying an additional 312 shares during the last quarter. Creative Planning purchased a new position in shares of Red Violet in the second quarter worth approximately $338,000. JPMorgan Chase & Co. grew its position in Red Violet by 5.5% during the second quarter. JPMorgan Chase & Co. now owns 38,120 shares of the company’s stock valued at $1,876,000 after buying an additional 1,990 shares during the period. Finally, Legal & General Group Plc increased its holdings in Red Violet by 143.5% during the second quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock valued at $142,000 after buying an additional 1,702 shares during the last quarter. 63.56% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on RDVT shares. Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Red Violet in a research report on Wednesday. B. Riley Financial upped their price objective on Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen cut Red Violet from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.50.
Red Violet Trading Down 2.7%
Red Violet stock opened at $65.49 on Friday. Red Violet, Inc. has a 12-month low of $33.40 and a 12-month high of $71.19. The firm has a market capitalization of $925.37 million, a price-to-earnings ratio of 68.22 and a beta of 1.83. The firm has a 50 day moving average of $61.83 and a 200 day moving average of $49.34.
Red Violet (NASDAQ:RDVT – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.14. The business had revenue of $25.83 million for the quarter, compared to the consensus estimate of $24.63 million. Red Violet had a net margin of 14.99% and a return on equity of 14.30%. On average, analysts predict that Red Violet, Inc. will post 1.06 EPS for the current year.
Insider Activity
In related news, CEO Derek Dubner sold 12,000 shares of the company’s 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 chief executive officer owned 557,273 shares in the company, valued at approximately $32,004,188.39. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Maclachlan 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 sale, the chief financial officer owned 358,902 shares in the company, valued at approximately $20,611,741.86. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 46,000 shares of company stock worth $2,641,880. 8.90% of the stock is currently owned by corporate insiders.
Red Violet 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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