New York State Common Retirement Fund Trims Holdings in Red Violet, Inc. $RDVT

New York State Common Retirement Fund reduced its stake in Red Violet, Inc. (NASDAQ:RDVT) by 86.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,282 shares of the company’s stock after selling 129,740 shares during the period. New York State Common Retirement Fund’s holdings in Red Violet were worth $1,060,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Red Violet during the 3rd quarter valued at about $33,000. Tower Research Capital LLC TRC raised its stake in Red Violet by 160.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock worth $51,000 after purchasing an additional 636 shares during the period. Legal & General Group Plc boosted its holdings in Red Violet by 143.5% in the 2nd quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock valued at $142,000 after purchasing an additional 1,702 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Red Violet by 50.5% in the 3rd quarter. SG Americas Securities LLC now owns 4,178 shares of the company’s stock valued at $218,000 after buying an additional 1,402 shares during the period. Finally, AlphaQuest LLC grew its stake in shares of Red Violet by 23.0% in the 2nd quarter. AlphaQuest LLC now owns 4,212 shares of the company’s stock valued at $207,000 after buying an additional 789 shares during the period. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Insider Transactions at Red Violet

In other Red Violet news, CEO Derek Dubner sold 4,099 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $57.85, for a total transaction of $237,127.15. Following the sale, the chief executive officer directly owned 557,711 shares in the company, valued at $32,263,581.35. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President James Patrick Reilly sold 4,099 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $57.85, for a total transaction of $237,127.15. Following the sale, the president directly owned 232,789 shares in the company, valued at $13,466,843.65. This represents a 1.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 21,303 shares of company stock worth $1,226,733 in the last 90 days. Insiders own 8.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RDVT. B. Riley Financial lifted their price target on shares of Red Violet from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wall Street Zen downgraded Red Violet from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Red Violet in a research note on Monday, December 29th. Zacks Research downgraded Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Lake Street Capital restated a “buy” rating and issued a $62.00 price objective on shares of Red Violet in a report on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Red Violet Stock Up 1.3%

NASDAQ:RDVT opened at $41.32 on Tuesday. Red Violet, Inc. has a 52 week low of $32.23 and a 52 week high of $64.14. The stock’s fifty day moving average is $51.62 and its two-hundred day moving average is $50.90. The stock has a market capitalization of $582.20 million, a price-to-earnings ratio of 53.66 and a beta of 1.66.

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.