Ieq Capital LLC purchased a new stake in Red Violet, Inc. (NASDAQ:RDVT – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 9,124 shares of the company’s stock, valued at approximately $581,000.
Several other institutional investors have also modified their holdings of the business. State of Wyoming boosted its holdings in 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 purchasing an additional 279 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Red Violet by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock worth $248,000 after purchasing an additional 312 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Red Violet by 145.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock valued at $32,000 after purchasing an additional 336 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Red Violet by 414.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock valued at $27,000 after purchasing an additional 377 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Red Violet by 4.9% in the 4th quarter. Deutsche Bank AG now owns 9,116 shares of the company’s stock valued at $519,000 after buying an additional 426 shares during the period. Institutional investors and hedge funds own 63.56% of the company’s stock.
Analyst Upgrades and Downgrades
RDVT has been the subject of a number of analyst reports. Wall Street Zen raised Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. B. Riley Financial boosted their price target on shares of Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Lake Street Capital raised their price objective on shares of Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Red Violet presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.
Insider Activity at Red Violet
In related news, Director William Paul Livek bought 2,000 shares of the stock in a transaction dated Thursday, August 27th. The stock was acquired at an average price of $71.49 per share, for a total transaction of $142,980.00. Following the acquisition, the director owned 22,733 shares in the company, valued at approximately $1,625,182.17. This represents a 9.65% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the president owned 232,351 shares in the company, valued at $13,343,917.93. This represents a 4.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,000 shares of company stock valued at $2,641,880 in the last quarter. Company insiders own 8.90% of the company’s stock.
Red Violet Stock Performance
RDVT opened at $73.30 on Friday. Red Violet, Inc. has a one year low of $33.40 and a one year high of $74.82. The company has a market cap of $1.18 billion, a P/E ratio of 65.45 and a beta of 1.83. The business’s 50-day simple moving average is $66.37 and its 200-day simple moving average is $51.87.
Red Violet (NASDAQ:RDVT – Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.17. The business had revenue of $26.72 million for the quarter, compared to analyst estimates of $25.62 million. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. As a group, analysts predict that Red Violet, Inc. will post 1.16 earnings per share for the current fiscal year.
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.
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