PDT Partners LLC purchased a new stake in Red Violet, Inc. (NASDAQ:RDVT – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 47,698 shares of the company’s stock, valued at approximately $3,039,000.
Other hedge funds have also recently bought and sold shares of the company. State of Wyoming lifted its position in shares of Red Violet by 5.4% in 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. grew its holdings in Red Violet by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock valued at $248,000 after buying an additional 312 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of 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. EverSource Wealth Advisors LLC increased its stake in shares of Red Violet by 414.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock valued at $27,000 after acquiring an additional 377 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of 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 during the period. 63.56% of the stock is owned by hedge funds and other institutional investors.
Red Violet Stock Performance
RDVT stock opened at $69.50 on Thursday. The firm has a market cap of $1.12 billion, a P/E ratio of 62.05 and a beta of 1.83. Red Violet, Inc. has a 1 year low of $33.40 and a 1 year high of $74.20. The stock has a 50-day simple moving average of $65.67 and a 200-day simple moving average of $51.50.
Analysts Set New Price Targets
RDVT has been the subject of a number of recent analyst reports. B. Riley Financial boosted their target price on shares of Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings raised shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Zacks Research lowered shares of Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Lake Street Capital upped their price objective on Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen raised Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.00.
View Our Latest Analysis on RDVT
Insider Activity
In other news, insider Jeffrey Alan Dell sold 10,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $57.44, for a total transaction of $574,400.00. Following the transaction, the insider directly owned 155,889 shares of the company’s stock, valued at approximately $8,954,264.16. The trade was a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 of the company’s stock, valued at $32,004,188.39. This trade represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 46,000 shares of company stock worth $2,641,880. Company insiders own 8.90% of the company’s stock.
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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