Quantinno Capital Management LP Makes New Investment in Red Violet, Inc. $RDVT

Quantinno Capital Management LP bought a new stake in shares of Red Violet, Inc. (NASDAQ:RDVT) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,212 shares of the company’s stock, valued at approximately $526,000.

Other hedge funds also recently modified their holdings of the company. Y Intercept Hong Kong Ltd grew its holdings in shares of Red Violet by 182.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 58,240 shares of the company’s stock valued at $2,015,000 after buying an additional 37,653 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Red Violet by 16.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock worth $5,703,000 after acquiring an additional 23,816 shares in the last quarter. 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 acquiring an additional 96,810 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Red Violet by 18.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 206,698 shares of the company’s stock worth $7,151,000 after acquiring an additional 32,189 shares during the period. Finally, Ashford Capital Management Inc. boosted its position in Red Violet by 3.8% during the 4th quarter. Ashford Capital Management Inc. now owns 602,818 shares of the company’s stock worth $34,330,000 after acquiring an additional 22,110 shares during the period. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Lake Street Capital upped their target price on Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Red Violet in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Red Violet from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, B. Riley Financial lifted their target price on shares of Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Red Violet has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Insider Buying and Selling at Red Violet

In other Red Violet news, CFO Daniel Maclachlan sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $57.43, for a total value of $689,160.00. Following the completion of the sale, the chief financial officer directly owned 358,902 shares of the company’s stock, valued at $20,611,741.86. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Derek Dubner sold 12,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $57.43, for a total transaction of $689,160.00. Following the transaction, the chief executive officer owned 557,273 shares in the company, valued at approximately $32,004,188.39. This trade represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,000 shares of company stock worth $2,641,880 in the last ninety days. Insiders own 8.90% of the company’s stock.

Red Violet Price Performance

Shares of RDVT stock opened at $70.53 on Friday. Red Violet, Inc. has a fifty-two week low of $33.40 and a fifty-two week high of $74.20. The stock’s 50-day moving average is $64.50 and its two-hundred day moving average is $50.69. The firm has a market cap of $1.13 billion, a P/E ratio of 62.97 and a beta of 1.83.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.17. The business had revenue of $26.72 million during the quarter, compared to analyst estimates of $25.62 million. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. As a group, research analysts expect that Red Violet, Inc. will post 1.06 EPS for the current 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.