Red Violet (NASDAQ:RDVT) Rating Increased to Moderate Buy at Raymond James Financial

Red Violet (NASDAQ:RDVT) was upgraded by equities researchers at Raymond James Financial to a “moderate buy” rating in a research report issued on Thursday, Zacks reports.

RDVT has been the subject of several other reports. Lake Street Capital increased their target price on shares of Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. B. Riley Financial lifted their price target on shares of Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wall Street Zen lowered shares of Red Violet from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings cut shares of Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 11th. Finally, Needham & Company LLC assumed coverage on shares of Red Violet in a research report on Tuesday, September 1st. They set a “buy” rating and a $90.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.50.

Red Violet Stock Performance

NASDAQ:RDVT opened at $75.94 on Thursday. The stock has a 50-day simple moving average of $70.12 and a two-hundred day simple moving average of $55.38. The firm has a market capitalization of $1.22 billion, a PE ratio of 67.80 and a beta of 1.81. Red Violet has a 52-week low of $33.40 and a 52-week high of $80.29.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.33 by $0.17. Red Violet had a return on equity of 16.12% and a net margin of 16.54%.The firm had revenue of $26.72 million for the quarter, compared to the consensus estimate of $25.62 million. Equities analysts forecast that Red Violet will post 1.16 earnings per share for the current fiscal year.

Insider Transactions at Red Violet

In other Red Violet news, Director William Livek bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average price of $71.49 per share, with a total value of $142,980.00. Following the purchase, the director owned 22,733 shares of the company’s stock, valued at $1,625,182.17. This trade represents a 9.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Red Violet

A number of institutional investors have recently added to or reduced their stakes in RDVT. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Red Violet by 16.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock worth $5,703,000 after buying an additional 23,816 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Red Violet by 182.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 58,240 shares of the company’s stock valued at $2,015,000 after acquiring an additional 37,653 shares during the last quarter. Ashford Capital Management Inc. increased its holdings in Red Violet by 13.9% in the 1st quarter. Ashford Capital Management Inc. now owns 686,816 shares of the company’s stock valued at $23,764,000 after acquiring an additional 83,998 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Red Violet by 18.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 206,698 shares of the company’s stock worth $7,151,000 after purchasing an additional 32,189 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Red Violet by 581.8% in the 1st quarter. Renaissance Technologies LLC now owns 113,450 shares of the company’s stock worth $3,925,000 after purchasing an additional 96,810 shares in the last quarter. 63.56% of the stock is owned by hedge funds and other institutional investors.

About Red Violet

Red Violet, Inc (NASDAQ: RDVT) is a technology company that provides data analytics and identity intelligence solutions. Its cloud-based platforms help organizations search, analyze and connect information from public and proprietary data sources to support investigations, risk management, fraud prevention and other decision-making processes.

The company’s products include idiCORE, an investigative and information platform designed for applications such as identity verification, collections, fraud detection and due diligence.