Red Violet (NASDAQ:RDVT) CEO Derek Dubner Sells 12,000 Shares of Stock

Red Violet, Inc. (NASDAQ:RDVT) CEO Derek Dubner sold 12,000 shares of Red Violet stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $57.43, for a total transaction of $689,160.00. Following the sale, the chief executive officer owned 557,273 shares of the company’s stock, valued at $32,004,188.39. The trade was a 2.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Red Violet Stock Up 4.3%

Shares of NASDAQ:RDVT opened at $59.30 on Tuesday. The stock has a market cap of $836.66 million, a P/E ratio of 61.77 and a beta of 1.71. Red Violet, Inc. has a 52-week low of $33.40 and a 52-week high of $64.14. The business’s 50 day moving average is $42.30 and its 200 day moving average is $46.77.

Red Violet (NASDAQ:RDVT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.14. The company had revenue of $25.83 million during the quarter, compared to analyst estimates of $24.63 million. Red Violet had a net margin of 14.99% and a return on equity of 14.30%. On average, sell-side analysts anticipate that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen lowered Red Violet from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Red Violet in a report on Friday, May 8th. Finally, Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Red Violet currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Institutional Investors Weigh In On Red Violet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new position in shares of Red Violet during the 1st quarter valued at about $3,826,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 buying an additional 312 shares during the period. Creative Planning purchased a new position in Red Violet in the second quarter valued at $338,000. JPMorgan Chase & Co. increased its holdings in Red Violet by 5.5% in the second quarter. JPMorgan Chase & Co. now owns 38,120 shares of the company’s stock valued at $1,876,000 after buying an additional 1,990 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Red Violet by 143.5% in the second quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock worth $142,000 after acquiring an additional 1,702 shares during the period. 63.56% of the stock is owned by institutional investors and hedge funds.

About Red Violet

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.