Wasatch Advisors LP Acquires 110,421 Shares of Red Violet, Inc. $RDVT

Wasatch Advisors LP grew its stake in shares of Red Violet, Inc. (NASDAQ:RDVT) by 13.8% during the first quarter, Holdings Channel reports. The institutional investor owned 911,636 shares of the company’s stock after purchasing an additional 110,421 shares during the quarter. Wasatch Advisors LP owned about 0.06% of Red Violet worth $31,543,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of RDVT. EverSource Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 377 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Red Violet by 145.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock valued at $32,000 after acquiring an additional 336 shares during the period. Tower Research Capital LLC TRC grew 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 acquiring an additional 636 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in Red Violet in the 4th quarter worth approximately $103,000. Finally, State of Alaska Department of Revenue increased its stake in Red Violet by 203.9% in the 4th quarter. State of Alaska Department of Revenue now owns 1,933 shares of the company’s stock worth $109,000 after purchasing an additional 1,297 shares during the period. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Red Violet Price Performance

NASDAQ RDVT opened at $60.28 on Friday. The stock has a market capitalization of $850.55 million, a PE ratio of 62.79 and a beta of 1.86. Red Violet, Inc. has a 1 year low of $33.40 and a 1 year high of $64.14. The business’s 50-day moving average is $49.30 and its 200 day moving average is $46.89.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.14. The company had revenue of $25.83 million for the quarter, compared to the consensus estimate of $24.63 million. Red Violet had a return on equity of 14.30% and a net margin of 14.99%. As a group, equities research analysts anticipate that Red Violet, Inc. will post 1.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jeffrey Alan Dell sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $57.44, for a total transaction of $574,400.00. Following the transaction, the insider directly owned 155,889 shares of the company’s stock, valued at approximately $8,954,264.16. The trade was a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President James Patrick Reilly sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $57.43, for a total value of $689,160.00. Following the transaction, the president owned 232,351 shares of the company’s stock, valued at approximately $13,343,917.93. This represents a 4.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 46,000 shares of company stock valued at $2,641,880 in the last 90 days. 8.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RDVT. Wall Street Zen downgraded Red Violet from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research cut shares of Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Red Violet in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.