Brown Capital Management LLC Has $19.73 Million Holdings in Red Violet, Inc. $RDVT

Brown Capital Management LLC trimmed its position in shares of Red Violet, Inc. (NASDAQ:RDVT) by 19.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 377,513 shares of the company’s stock after selling 91,827 shares during the quarter. Brown Capital Management LLC owned approximately 2.70% of Red Violet worth $19,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in Red Violet during the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC increased its stake in shares of Red Violet by 160.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock valued at $51,000 after buying an additional 636 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Red Violet by 143.5% in the second quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock valued at $142,000 after buying an additional 1,702 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Red Violet by 23.0% in the second 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 last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Red Violet during the 2nd quarter worth about $212,000. Institutional investors and hedge funds own 63.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Zacks Research cut shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Friday. Lake Street Capital reissued a “buy” rating and set a $62.00 price target on shares of Red Violet in a research note on Thursday, November 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Red Violet in a report on Monday, December 29th. B. Riley boosted their price objective on shares of Red Violet from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Wall Street Zen lowered Red Violet from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Insider Buying and Selling

In other Red Violet news, CEO Derek Dubner sold 7,006 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was 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 in the company, valued at approximately $32,773,691.34. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Alan Dell sold 4,671 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $58.11, for a total value of $271,431.81. Following the completion of the sale, the insider directly owned 161,263 shares of the company’s stock, valued at approximately $9,370,992.93. This trade represents a 2.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 55,000 shares of company stock worth $3,182,463. Corporate insiders own 8.90% of the company’s stock.

Red Violet Stock Performance

Shares of RDVT stock opened at $44.89 on Tuesday. The firm’s 50 day moving average price is $53.02 and its two-hundred day moving average price is $51.07. Red Violet, Inc. has a 52-week low of $32.23 and a 52-week high of $64.14. The stock has a market cap of $632.50 million, a PE ratio of 58.30 and a beta of 1.66.

Red Violet (NASDAQ:RDVT) last issued its earnings results on Wednesday, November 5th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. Red Violet had a net margin of 12.96% and a return on equity of 12.26%. The company had revenue of $23.08 million during the quarter, compared to analysts’ expectations of $22.64 million. As a group, sell-side analysts predict that Red Violet, Inc. will post 0.51 earnings per share for the current fiscal year.

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.