State of Wyoming Acquires 7,969 Shares of Red Violet, Inc. $RDVT

State of Wyoming acquired a new position in Red Violet, Inc. (NASDAQ:RDVT) in the third quarter, Holdings Channel.com reports. The fund acquired 7,969 shares of the company’s stock, valued at approximately $630,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Red Violet in the second quarter valued at about $60,582,000. Ashford Capital Management Inc. grew its stake in shares of 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 during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Red Violet by 16.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock valued at $5,703,000 after acquiring an additional 23,816 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Red Violet by 581.8% during the first quarter. Renaissance Technologies LLC now owns 113,450 shares of the company’s stock valued at $3,925,000 after acquiring an additional 96,810 shares in the last quarter. 63.56% of the stock is owned by institutional investors and hedge funds.

Red Violet Price Performance

Shares of NASDAQ:RDVT opened at $80.00 on Monday. Red Violet, Inc. has a 52-week low of $33.40 and a 52-week high of $83.15. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 71.43 and a beta of 1.79. The business has a 50-day moving average price of $76.63 and a 200-day moving average price of $57.09.

Red Violet (NASDAQ:RDVT) last issued its earnings results on Monday, August 10th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.17. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. The firm had revenue of $26.72 million for the quarter, compared to analyst estimates of $25.62 million. As a group, equities analysts anticipate that Red Violet, Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RDVT has been the subject of a number of recent analyst reports. Needham & Company LLC started coverage on shares of Red Violet in a research note on Tuesday, September 1st. They issued a “buy” rating and a $90.00 target price for the company. Wall Street Zen upgraded shares of Red Violet from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Weiss Ratings raised shares of Red Violet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 13th. Raymond James Financial initiated coverage on shares of Red Violet in a research note on Thursday, September 17th. They set an “outperform” rating and a $90.00 price objective for the company. Finally, Lake Street Capital boosted their price objective on shares of Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.50.

Insider Transactions at Red Violet

In other news, Director William Livek bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average cost of $71.49 per share, for a total transaction of $142,980.00. Following the purchase, the director directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.90% of the company’s stock.

Red Violet 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.