Red Violet (NASDAQ:RDVT) Trading 3.6% Higher – Time to Buy?

Red Violet, Inc. (NASDAQ:RDVT)’s share price traded up 3.6% during trading on Monday . The stock traded as high as $57.46 and last traded at $57.2020. 36,893 shares were traded during mid-day trading, a decline of 62% from the average session volume of 96,684 shares. The stock had previously closed at $55.23.

Analysts Set New Price Targets

Several research firms recently issued reports on RDVT. Lake Street Capital restated a “buy” rating and issued a $62.00 price target on shares of Red Violet in a research note on Thursday, November 6th. Wall Street Zen raised shares of Red Violet from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Red Violet in a research note on Monday. Finally, B. Riley boosted their price objective on shares of Red Violet from $52.00 to $62.00 and gave the company a “buy” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $62.00.

Red Violet Stock Performance

The stock’s fifty day moving average price is $54.98 and its two-hundred day moving average price is $50.68. The company has a market cap of $802.73 million, a P/E ratio of 74.00 and a beta of 1.67.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. Red Violet had a net margin of 12.96% and a return on equity of 12.26%. The business had revenue of $23.08 million during the quarter, compared to the consensus estimate of $22.64 million. On average, equities research analysts forecast that Red Violet, Inc. will post 0.51 EPS for the current year.

Insider Activity at Red Violet

In other Red Violet news, insider Jeffrey Alan Dell sold 1,140 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $56.95, for a total transaction of $64,923.00. Following the sale, the insider owned 155,934 shares of the company’s stock, valued at approximately $8,880,441.30. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel Maclachlan sold 1,711 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $56.95, for a total transaction of $97,441.45. Following the transaction, the chief financial officer owned 358,163 shares of the company’s stock, valued at $20,397,382.85. This trade represents a 0.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 55,000 shares of company stock valued at $3,182,463. 8.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Red Violet

Several hedge funds have recently modified their holdings of RDVT. Vanguard Group Inc. increased its holdings in Red Violet by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 932,707 shares of the company’s stock worth $48,734,000 after purchasing an additional 37,622 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Red Violet by 10.4% during the third quarter. Wasatch Advisors LP now owns 888,857 shares of the company’s stock worth $46,443,000 after purchasing an additional 83,831 shares during the last quarter. Ashford Capital Management Inc. increased its stake in shares of Red Violet by 1.3% in the second quarter. Ashford Capital Management Inc. now owns 593,514 shares of the company’s stock valued at $29,201,000 after buying an additional 7,610 shares during the period. Brown Capital Management LLC raised its holdings in Red Violet by 31.3% in the 2nd quarter. Brown Capital Management LLC now owns 469,340 shares of the company’s stock valued at $23,092,000 after buying an additional 111,908 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Red Violet by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 273,818 shares of the company’s stock worth $13,475,000 after buying an additional 12,102 shares during the period. Institutional investors and hedge funds own 63.56% of the company’s stock.

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.