Arrowstreet Capital Limited Partnership Buys 44,592 Shares of Red Violet, Inc. $RDVT

Arrowstreet Capital Limited Partnership boosted its position in shares of Red Violet, Inc. (NASDAQ:RDVT) by 27.5% during the second quarter, Holdings Channel.com reports. The fund owned 206,570 shares of the company’s stock after acquiring an additional 44,592 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Red Violet were worth $10,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Red Violet by 1.2% in the first quarter. Vanguard Group Inc. now owns 615,948 shares of the company’s stock worth $23,153,000 after purchasing an additional 7,396 shares in the last quarter. Geode Capital Management LLC increased its stake in Red Violet by 4.6% in the 2nd quarter. Geode Capital Management LLC now owns 273,818 shares of the company’s stock worth $13,475,000 after buying an additional 12,102 shares in the last quarter. Pembroke Management LTD raised its holdings in Red Violet by 740.2% during the first quarter. Pembroke Management LTD now owns 252,503 shares of the company’s stock valued at $9,492,000 after acquiring an additional 222,451 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Red Violet by 14.3% in the second quarter. Russell Investments Group Ltd. now owns 174,121 shares of the company’s stock valued at $8,567,000 after acquiring an additional 21,747 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Red Violet by 41.5% in the second quarter. New York State Common Retirement Fund now owns 150,022 shares of the company’s stock worth $7,381,000 after acquiring an additional 43,998 shares during the period. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Red Violet Stock Up 1.7%

RDVT stock opened at $56.64 on Wednesday. Red Violet, Inc. has a 52 week low of $32.23 and a 52 week high of $64.14. The firm has a market capitalization of $798.06 million, a P/E ratio of 73.56 and a beta of 1.67. The company has a fifty day simple moving average of $53.87 and a two-hundred day simple moving average of $49.80.

Red Violet (NASDAQ:RDVT) last posted its earnings results on Wednesday, November 5th. The company reported $0.39 earnings per share for the quarter, topping 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 firm had revenue of $23.08 million for the quarter, compared to the consensus estimate of $22.64 million. As a group, analysts anticipate that Red Violet, Inc. will post 0.51 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on RDVT. Weiss Ratings reissued a “buy (b-)” rating on shares of Red Violet in a research note on Monday, December 1st. Lake Street Capital reiterated a “buy” rating and set a $62.00 price objective on shares of Red Violet in a research report on Thursday, November 6th. Wall Street Zen upgraded shares of Red Violet from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 9th. Finally, B. Riley raised their target price on shares of Red Violet from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $62.00.

Insider Buying and Selling

In other news, CEO Derek Dubner sold 1,711 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $56.95, for a total transaction of $97,441.45. Following the transaction, the chief executive officer owned 556,000 shares of the company’s stock, valued at approximately $31,664,200. The trade was a 0.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Alan Dell sold 1,140 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $56.95, for a total value of $64,923.00. Following the sale, the insider owned 155,934 shares in the company, valued at $8,880,441.30. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 55,000 shares of company stock valued at $3,182,463. 8.90% of the stock is currently owned by company insiders.

Red Violet 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.