Red Violet (NASDAQ:RDVT) Insider Jeffrey Alan Dell Sells 10,000 Shares of Stock

Red Violet, Inc. (NASDAQ:RDVT) insider Jeffrey Alan Dell sold 10,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $57.44, for a total value of $574,400.00. Following the transaction, the insider owned 155,889 shares in the company, valued at approximately $8,954,264.16. This represents a 6.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Red Violet Trading Up 4.3%

Shares of NASDAQ RDVT opened at $59.30 on Tuesday. The firm has a fifty day simple moving average of $42.30 and a two-hundred day simple moving average of $46.77. Red Violet, Inc. has a 12 month low of $33.40 and a 12 month high of $64.14. The firm has a market capitalization of $836.66 million, a PE ratio of 61.77 and a beta of 1.71.

Red Violet (NASDAQ:RDVT) last released its earnings results 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. Red Violet had a net margin of 14.99% and a return on equity of 14.30%. The firm had revenue of $25.83 million for the quarter, compared to the consensus estimate of $24.63 million. On average, sell-side analysts predict that Red Violet, Inc. will post 1.06 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Red Violet

Several institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Red Violet by 414.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock valued at $27,000 after purchasing an additional 377 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Red Violet by 145.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock valued at $32,000 after purchasing an additional 336 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Red Violet by 160.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock valued at $51,000 after purchasing an additional 636 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Red Violet during the 4th quarter valued at about $103,000. Finally, State of Alaska Department of Revenue raised its position in Red Violet by 203.9% during the fourth quarter. State of Alaska Department of Revenue now owns 1,933 shares of the company’s stock valued at $109,000 after purchasing an additional 1,297 shares during the period. Institutional investors own 63.56% of the company’s stock.

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.