White Pine Capital LLC Has $750,000 Position in Red Violet, Inc. $RDVT

White Pine Capital LLC grew its stake in shares of Red Violet, Inc. (NASDAQ:RDVT) by 44.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,243 shares of the company’s stock after acquiring an additional 4,674 shares during the period. White Pine Capital LLC owned 0.11% of Red Violet worth $750,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CWM LLC boosted its position in Red Violet by 5,900.0% during the first quarter. CWM LLC now owns 17,640 shares of the company’s stock valued at $663,000 after purchasing an additional 17,346 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Red Violet by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 615,948 shares of the company’s stock worth $23,153,000 after purchasing an additional 7,396 shares in the last quarter. Bard Associates Inc. lifted its holdings in shares of Red Violet by 6.7% during the 1st quarter. Bard Associates Inc. now owns 8,822 shares of the company’s stock valued at $332,000 after buying an additional 554 shares during the last quarter. Invesco Ltd. grew its stake in shares of Red Violet by 930.3% in the 1st quarter. Invesco Ltd. now owns 70,259 shares of the company’s stock valued at $2,641,000 after buying an additional 63,440 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Red Violet in the first quarter worth approximately $1,885,000. 63.56% of the stock is owned by institutional investors and hedge funds.

Red Violet Price Performance

Red Violet stock opened at $52.55 on Friday. Red Violet, Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $64.14. The firm has a fifty day moving average price of $52.97 and a two-hundred day moving average price of $49.05. The firm has a market cap of $734.12 million, a price-to-earnings ratio of 68.25 and a beta of 1.76.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. Red Violet had a return on equity of 12.26% and a net margin of 12.96%.The business had revenue of $23.08 million for the quarter, compared to analyst estimates of $22.64 million. As a group, sell-side analysts expect that Red Violet, Inc. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CEO Derek Dubner sold 7,006 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $58.11, for a total transaction of $407,118.66. Following the transaction, the chief executive officer owned 563,994 shares of the company’s stock, valued at approximately $32,773,691.34. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Alan Dell sold 4,671 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $58.11, for a total transaction of $271,431.81. Following the transaction, the insider owned 161,263 shares of the company’s stock, valued at approximately $9,370,992.93. The trade was a 2.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 55,000 shares of company stock valued at $3,182,463 in the last three months. 8.90% of the stock is owned by corporate insiders.

About Red Violet

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.