Red Violet (NASDAQ:RDVT) CEO Derek Dubner Sells 12,000 Shares

Red Violet, Inc. (NASDAQ:RDVT) CEO Derek Dubner sold 12,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $57.43, for a total value of $689,160.00. Following the completion of the transaction, the chief executive officer directly owned 557,273 shares of the company’s stock, valued at $32,004,188.39. The trade was a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Red Violet Price Performance

NASDAQ RDVT traded up $2.46 during trading hours on Monday, reaching $59.30. The company’s stock had a trading volume of 418,289 shares, compared to its average volume of 165,628. The company’s 50-day moving average is $42.30 and its two-hundred day moving average is $46.77. Red Violet, Inc. has a 1-year low of $33.40 and a 1-year high of $64.14. The firm has a market capitalization of $836.72 million, a price-to-earnings ratio of 61.77 and a beta of 1.85.

Red Violet (NASDAQ:RDVT) last announced its earnings results on Wednesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.14. Red Violet had a return on equity of 14.30% and a net margin of 14.99%.The business had revenue of $25.83 million during the quarter, compared to analysts’ expectations of $24.63 million. Equities analysts forecast that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ashford Capital Management Inc. boosted its holdings in Red Violet by 13.9% in the first quarter. Ashford Capital Management Inc. now owns 686,816 shares of the company’s stock valued at $23,764,000 after purchasing an additional 83,998 shares during the period. Quantinno Capital Management LP purchased a new position in Red Violet in the first quarter valued at $526,000. Renaissance Technologies LLC boosted its holdings in Red Violet by 581.8% in the first quarter. Renaissance Technologies LLC now owns 113,450 shares of the company’s stock valued at $3,925,000 after purchasing an additional 96,810 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Red Violet by 16.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock valued at $5,703,000 after purchasing an additional 23,816 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Red Violet by 18.4% in the first quarter. Dimensional Fund Advisors LP now owns 206,698 shares of the company’s stock valued at $7,151,000 after purchasing an additional 32,189 shares during the period. 63.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RDVT has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Red Violet in a research report on Friday, May 8th. Wall Street Zen lowered Red Violet from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

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.