Squarepoint Ops LLC Buys New Shares in Red Violet, Inc. $RDVT

Squarepoint Ops LLC purchased a new position in shares of Red Violet, Inc. (NASDAQ:RDVT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 36,074 shares of the company’s stock, valued at approximately $1,775,000.

Several other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Red Violet by 5.0% in the first 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 last quarter. Prudential Financial Inc. boosted its position in Red Violet by 0.8% in the second quarter. Prudential Financial Inc. now owns 39,407 shares of the company’s stock valued at $1,939,000 after buying an additional 332 shares during the last quarter. Rhumbline Advisers increased its holdings in Red Violet by 2.5% in the 1st quarter. Rhumbline Advisers now owns 16,304 shares of the company’s stock worth $613,000 after buying an additional 393 shares during the period. Fifth Third Bancorp acquired a new position in Red Violet in the 2nd quarter worth approximately $25,000. Finally, Tower Research Capital LLC TRC raised its position in Red Violet by 160.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock worth $51,000 after buying an additional 636 shares during the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Red Violet Stock Performance

Shares of NASDAQ RDVT opened at $55.87 on Friday. The company has a market capitalization of $787.21 million, a PE ratio of 72.56 and a beta of 1.67. The company’s fifty day moving average price is $54.28 and its 200 day moving average price is $50.04. Red Violet, Inc. has a 1 year low of $32.23 and a 1 year high of $64.14.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts expect that Red Violet, Inc. will post 0.51 EPS for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, President James Patrick Reilly sold 7,006 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $58.11, for a total transaction of $407,118.66. Following the completion of the transaction, the president directly owned 239,072 shares of the company’s stock, valued at $13,892,473.92. This represents a 2.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey Alan Dell sold 4,671 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $58.11, for a total value of $271,431.81. Following the transaction, the insider owned 161,263 shares in the company, valued at $9,370,992.93. This trade represents a 2.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 55,000 shares of company stock worth $3,182,463. Company insiders own 8.90% of the company’s stock.

Red Violet Company Profile

Red Violet, Inc, a software and services company, specializes in proprietary technologies and applying analytical capabilities to deliver identity intelligence in the United States. It offers idiCORE, an investigative solution used to address various organizational challenges, which include due diligence, risk mitigation, identity authentication, fraud detection and prevention, customer acquisition, and regulatory compliance; and FOREWARN, an app-based solution that provides instant knowledge before face-to-face engagement with a consumer, as well as helps professionals to identify and mitigate risk.