Quantbot Technologies LP Acquires Shares of 17,037 Red Violet, Inc. $RDVT

Quantbot Technologies LP acquired a new stake in Red Violet, Inc. (NASDAQ:RDVT) in the 2nd quarter, HoldingsChannel reports. The fund acquired 17,037 shares of the company’s stock, valued at approximately $1,086,000.

A number of other hedge funds have also recently modified their holdings of RDVT. BlackRock Inc. acquired a new stake in Red Violet during the second quarter worth about $60,582,000. Royal Bank of Canada raised its position in Red Violet by 247.4% during the fourth quarter. Royal Bank of Canada now owns 282,480 shares of the company’s stock valued at $16,088,000 after acquiring an additional 201,169 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Red Violet by 13.8% in the first quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock valued at $31,543,000 after acquiring an additional 110,421 shares during the period. AQR Capital Management LLC acquired a new position in Red Violet in the first quarter valued at approximately $3,826,000. Finally, Renaissance Technologies LLC boosted its position in Red Violet by 581.8% in the 1st quarter. Renaissance Technologies LLC now owns 113,450 shares of the company’s stock worth $3,925,000 after purchasing an additional 96,810 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Daniel Maclachlan sold 12,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $57.43, for a total value of $689,160.00. Following the transaction, the chief financial officer owned 358,902 shares of the company’s stock, valued at $20,611,741.86. This represents a 3.24% decrease in their position. The sale 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 stock in a transaction on Monday, June 1st. The stock was sold at an average price of $57.43, for a total value of $689,160.00. Following the transaction, the chief executive officer owned 557,273 shares of the company’s stock, valued at approximately $32,004,188.39. This represents a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 46,000 shares of company stock worth $2,641,880 in the last three months. 8.90% of the stock is owned by insiders.

Red Violet Price Performance

Red Violet stock opened at $69.39 on Wednesday. The firm has a 50 day simple moving average of $65.39 and a 200-day simple moving average of $51.30. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 61.96 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.

Red Violet (NASDAQ:RDVT) last released its quarterly earnings results on Monday, August 10th. The company reported $0.50 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 firm had revenue of $26.72 million for the quarter, compared to analyst estimates of $25.62 million. Equities analysts expect that Red Violet, Inc. will post 1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RDVT has been the topic of a number of analyst reports. Wall Street Zen raised shares of Red Violet from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Lake Street Capital boosted their target price on shares of Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Zacks Research lowered Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, B. Riley Financial lifted their target price on shares of Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. 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, Red Violet has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Red Violet Company 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.