Red Violet (NASDAQ:RDVT) Shares Gap Down – Should You Sell?

Red Violet, Inc. (NASDAQ:RDVT)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $49.70, but opened at $46.27. Red Violet shares last traded at $46.0050, with a volume of 9,395 shares changing hands.

Analysts Set New Price Targets

A number of research firms have weighed in on RDVT. Weiss Ratings restated a “hold (c+)” rating on shares of Red Violet in a research note on Friday. Zacks Research lowered shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Wall Street Zen cut shares of Red Violet from a “buy” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Red Violet currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Red Violet Stock Down 0.2%

The stock has a market capitalization of $660.70 million, a price-to-earnings ratio of 48.66 and a beta of 1.71. The company’s fifty day simple moving average is $39.81 and its 200 day simple moving average is $47.18.

Red Violet (NASDAQ:RDVT) last announced its earnings results on Wednesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.32 by $0.14. The business had revenue of $25.83 million during the quarter, compared to the consensus estimate of $24.63 million. Red Violet had a net margin of 14.99% and a return on equity of 14.30%. As a group, analysts anticipate that Red Violet, Inc. will post 1.03 earnings per share for the current year.

Institutional Trading of Red Violet

Institutional investors have recently added to or reduced their stakes in the company. Pembroke Management LTD boosted its position in shares of Red Violet by 9.4% in the third quarter. Pembroke Management LTD now owns 251,272 shares of the company’s stock valued at $13,129,000 after acquiring an additional 21,550 shares during the period. Sierra Summit Advisors LLC acquired a new stake in Red Violet in the 3rd quarter worth about $859,000. Madrona Financial Services LLC bought a new stake in Red Violet in the 4th quarter valued at about $2,094,000. Principal Financial Group Inc. grew its position in shares of Red Violet by 227.0% during the 3rd quarter. Principal Financial Group Inc. now owns 17,796 shares of the company’s stock worth $930,000 after purchasing an additional 12,353 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its holdings in shares of Red Violet by 3.4% during the third quarter. Essex Investment Management Co. LLC now owns 61,217 shares of the company’s stock worth $3,199,000 after purchasing an additional 2,015 shares during the period. 63.56% of the stock is currently owned by institutional investors.

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.