Red Violet (NASDAQ:RDVT) Stock Price Down 4.5% – What’s Next?

Red Violet, Inc. (NASDAQ:RDVTGet Free Report) shares dropped 4.5% during mid-day trading on Wednesday . The stock traded as low as $73.16 and last traded at $72.18. Approximately 68,431 shares traded hands during trading, a decline of 59% from the average session volume of 166,496 shares. The stock had previously closed at $75.56.

Analysts Set New Price Targets

Several research firms have recently commented on RDVT. Weiss Ratings raised shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Wall Street Zen upgraded shares of Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Needham & Company LLC started coverage on shares of Red Violet in a research note on Tuesday. They issued a “buy” rating and a $90.00 price target on the stock. Lake Street Capital lifted their price target on Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, B. Riley Financial boosted their price objective on Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Four 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.33.

Read Our Latest Research Report on RDVT

Red Violet Trading Down 4.4%

The company has a market capitalization of $1.16 billion, a P/E ratio of 64.48 and a beta of 1.82. The business’s 50-day simple moving average is $67.15 and its 200 day simple moving average is $52.41.

Red Violet (NASDAQ:RDVTGet Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.17. Red Violet had a net margin of 16.54% and a return on equity of 16.12%. The business had revenue of $26.72 million during the quarter, compared to analysts’ expectations of $25.62 million. As a group, sell-side analysts predict that Red Violet, Inc. will post 1.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William Paul Livek purchased 2,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were bought at an average cost of $71.49 per share, for a total transaction of $142,980.00. Following the transaction, the director owned 22,733 shares in the company, valued at $1,625,182.17. This trade represents a 9.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RDVT. AQR Capital Management LLC acquired a new position in Red Violet during the first quarter worth about $3,826,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 acquiring an additional 312 shares during the last quarter. Creative Planning acquired a new stake in Red Violet in the 2nd quarter valued at about $338,000. JPMorgan Chase & Co. boosted its position in shares of Red Violet by 5.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,120 shares of the company’s stock valued at $1,876,000 after purchasing an additional 1,990 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Red Violet by 143.5% during the 2nd quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock valued at $142,000 after purchasing an additional 1,702 shares in the last quarter. Institutional investors own 63.56% of the company’s stock.

Red Violet Company Profile

(Get Free Report)

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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