Red Violet (NASDAQ:RDVT) Reaches New 12-Month High on Insider Buying Activity

Red Violet, Inc. (NASDAQ:RDVT)’s stock price hit a new 52-week high during trading on Friday following insider buying activity. The company traded as high as $74.82 and last traded at $74.23, with a volume of 89802 shares trading hands. The stock had previously closed at $72.00.

Specifically, Director William Paul Livek purchased 2,000 shares of Red Violet stock in a transaction dated Thursday, August 27th. The shares were acquired at an average cost of $71.49 per share, with a total value of $142,980.00. Following the completion of the transaction, the director owned 22,733 shares in the company, valued at approximately $1,625,182.17. This trade represents a 9.65% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

Several equities analysts recently commented on RDVT shares. Weiss Ratings raised shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Wall Street Zen raised shares of Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Lake Street Capital upped their price target on shares of Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Zacks Research lowered shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, B. Riley Financial raised their price target on shares of Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.00.

Red Violet Stock Up 3.0%

The company has a market capitalization of $1.19 billion, a PE ratio of 66.21 and a beta of 1.83. The firm has a 50-day moving average of $66.01 and a two-hundred day moving average of $51.72.

Red Violet (NASDAQ:RDVT) last posted its 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 firm had revenue of $26.72 million during the quarter, compared to analysts’ expectations of $25.62 million. Red Violet had a net margin of 16.54% and a return on equity of 16.12%. Equities analysts predict that Red Violet, Inc. will post 1.16 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 RDVT. EverSource Wealth Advisors LLC lifted its position in shares of Red Violet by 414.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock valued at $27,000 after acquiring an additional 377 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Red Violet by 145.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock worth $32,000 after purchasing an additional 336 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Red Violet by 160.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock worth $51,000 after purchasing an additional 636 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in Red Violet in the 4th quarter valued at $103,000. Finally, Legal & General Group Plc raised its stake in Red Violet by 143.5% in the 2nd quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock valued at $142,000 after purchasing an additional 1,702 shares during the last quarter. 63.56% of the stock is owned by hedge funds and other 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.