Geode Capital Management LLC Boosts Stake in Red Violet, Inc. $RDVT

Geode Capital Management LLC lifted its holdings in Red Violet, Inc. (NASDAQ:RDVT) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,818 shares of the company’s stock after buying an additional 12,102 shares during the period. Geode Capital Management LLC’s holdings in Red Violet were worth $13,475,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Red Violet by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock valued at $248,000 after acquiring an additional 312 shares during the last quarter. Rhumbline Advisers increased its position in shares of Red Violet by 2.5% during the 1st quarter. Rhumbline Advisers now owns 16,304 shares of the company’s stock valued at $613,000 after purchasing an additional 393 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Red Violet during the 2nd quarter valued at $25,000. Bard Associates Inc. raised its stake in shares of Red Violet by 6.7% during the 1st quarter. Bard Associates Inc. now owns 8,822 shares of the company’s stock worth $332,000 after purchasing an additional 554 shares during the period. Finally, AlphaQuest LLC boosted its holdings in shares of Red Violet by 23.0% in the 2nd quarter. AlphaQuest LLC now owns 4,212 shares of the company’s stock worth $207,000 after buying an additional 789 shares during the last quarter. 63.56% of the stock is owned by institutional investors.

Red Violet Stock Up 0.1%

NASDAQ RDVT opened at $54.22 on Tuesday. The firm has a market cap of $763.96 million, a P/E ratio of 70.42 and a beta of 1.67. The company’s 50 day moving average is $53.51 and its 200-day moving average is $49.58. Red Violet, Inc. has a 12-month low of $32.23 and a 12-month high of $64.14.

Red Violet (NASDAQ:RDVT) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Red Violet had a net margin of 12.96% and a return on equity of 12.26%. The business had revenue of $23.08 million during the quarter, compared to analyst estimates of $22.64 million. Equities analysts expect that Red Violet, Inc. will post 0.51 EPS for the current year.

Insider Buying and Selling

In related news, CEO Derek Dubner sold 7,006 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $58.11, for a total transaction of $407,118.66. Following the sale, the chief executive officer directly owned 563,994 shares in the company, valued at approximately $32,773,691.34. The trade was a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Maclachlan sold 7,006 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $58.11, for a total value of $407,118.66. Following the sale, the chief financial officer directly owned 366,157 shares in the company, valued at $21,277,383.27. This trade represents a 1.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,000 shares of company stock valued at $3,182,463 in the last ninety days. 8.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on RDVT. B. Riley raised their price objective on shares of Red Violet from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Wall Street Zen raised shares of Red Violet from a “hold” rating to a “strong-buy” rating in a report on Sunday, November 9th. Lake Street Capital reiterated a “buy” rating and issued a $62.00 price objective on shares of Red Violet in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Red Violet in a research report on Tuesday, November 25th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Red Violet currently has a consensus rating of “Buy” and an average target price of $62.00.

Red Violet Company Profile

Red Violet, Inc, a software and services company, specializes in proprietary technologies and applying analytical capabilities to deliver identity intelligence in the United States. It offers idiCORE, an investigative solution used to address various organizational challenges, which include due diligence, risk mitigation, identity authentication, fraud detection and prevention, customer acquisition, and regulatory compliance; and FOREWARN, an app-based solution that provides instant knowledge before face-to-face engagement with a consumer, as well as helps professionals to identify and mitigate risk.