Shares of Red Violet, Inc. (NASDAQ:RDVT – Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $77.36 and last traded at $76.5690, with a volume of 150834 shares changing hands. The stock had previously closed at $71.47.
Analyst Ratings Changes
Several research firms recently commented on RDVT. B. Riley Financial boosted their price objective on shares of Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Wall Street Zen raised shares of Red Violet from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Lake Street Capital increased their price objective on Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC started coverage on Red Violet in a research report on Tuesday. They issued a “buy” rating and a $90.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.33.
Read Our Latest Research Report on RDVT
Red Violet Stock Up 7.1%
Red Violet (NASDAQ:RDVT – Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.17. Red Violet had a return on equity of 16.12% and a net margin of 16.54%.The firm had revenue of $26.72 million for the quarter, compared to the consensus estimate of $25.62 million. On average, analysts predict that Red Violet, Inc. will post 1.16 earnings per share for the current fiscal year.
Insider Transactions at Red Violet
In other Red Violet news, Director William Paul Livek acquired 2,000 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were bought at an average cost of $71.49 per share, with a total value of $142,980.00. Following the completion of the acquisition, the director owned 22,733 shares in the company, valued at approximately $1,625,182.17. This trade represents a 9.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.90% of the company’s stock.
Institutional Investors Weigh In On Red Violet
Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Red Violet by 414.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock worth $27,000 after acquiring an additional 377 shares during the period. Caitong International Asset Management Co. Ltd boosted 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 buying an additional 336 shares during the period. Tower Research Capital LLC TRC boosted its position in Red Violet by 160.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock valued at $51,000 after buying an additional 636 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Red Violet in the fourth quarter worth $103,000. Finally, Legal & General Group Plc increased its position in shares of Red Violet by 143.5% during the second quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock worth $142,000 after acquiring an additional 1,702 shares during the period. 63.56% of the stock is currently owned by hedge funds and other institutional investors.
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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