Red Violet, Inc. (NASDAQ:RDVT) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Red Violet, Inc. (NASDAQ:RDVT) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $83.50.

Several equities analysts recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Red Violet in a report on Tuesday, September 1st. They issued a “buy” rating and a $90.00 target price on the stock. Weiss Ratings upgraded Red Violet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 13th. Raymond James Financial began coverage on Red Violet in a report on Thursday, September 17th. They set an “outperform” rating and a $90.00 price target for the company. Wall Street Zen raised Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, Zacks Research lowered Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 20th.

Red Violet Stock Performance

Red Violet stock opened at $81.23 on Wednesday. Red Violet has a 52-week low of $33.40 and a 52-week high of $82.19. The firm has a 50 day moving average price of $75.94 and a two-hundred day moving average price of $56.67.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.17. The firm had revenue of $26.72 million during the quarter, compared to the consensus estimate of $25.62 million. Equities analysts expect that Red Violet will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Red Violet news, Director William Livek purchased 2,000 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were purchased at an average cost of $71.49 per share, with a total value of $142,980.00. Following the completion of the purchase, the director owned 22,733 shares in the company, valued at $1,625,182.17. This represents a 9.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.90% of the stock is owned by corporate insiders.

Institutional Trading of Red Violet

Several large investors have recently modified their holdings of RDVT. BlackRock Inc. bought a new stake in shares of Red Violet in the 2nd quarter valued at $60,582,000. Wasatch Advisors LP boosted its stake in Red Violet by 13.8% during the first quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock worth $31,543,000 after acquiring an additional 110,421 shares in the last quarter. Ashford Capital Management Inc. boosted its stake in Red Violet by 13.9% during the first quarter. Ashford Capital Management Inc. now owns 686,816 shares of the company’s stock worth $23,764,000 after acquiring an additional 83,998 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Red Violet by 18.4% during the first 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew 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 worth $5,703,000 after purchasing an additional 23,816 shares during the period. Institutional investors and hedge funds own 63.56% of the company’s stock.

Red Violet Company Profile

Red Violet, Inc (NASDAQ: RDVT) is a technology company that develops cloud-based identity intelligence and information solutions. Its platform helps organizations access, analyze and connect data to support investigations, risk management, fraud prevention, compliance and other decision-making activities.

The company’s products include idiCORE, an investigative and information services platform designed for users such as law enforcement agencies, government organizations, corporate security teams, insurance companies, financial institutions, collection agencies and other businesses.