Globeflex Capital L P Decreases Holdings in Red Violet, Inc. $RDVT

Globeflex Capital L P trimmed its holdings in shares of Red Violet, Inc. (NASDAQ:RDVT) by 14.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,813 shares of the company’s stock after selling 13,489 shares during the period. Globeflex Capital L P owned 0.59% of Red Violet worth $4,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Sierra Summit Advisors LLC purchased a new stake in Red Violet during the 3rd quarter worth about $859,000. Madrona Financial Services LLC purchased a new stake in Red Violet during the 4th quarter worth about $2,094,000. Principal Financial Group Inc. lifted its holdings in Red Violet by 227.0% during the 3rd quarter. Principal Financial Group Inc. now owns 17,796 shares of the company’s stock worth $930,000 after buying an additional 12,353 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Red Violet by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 956,443 shares of the company’s stock worth $54,469,000 after buying an additional 23,736 shares during the last quarter. Finally, State of Wyoming lifted its holdings in Red Violet by 71.1% during the 3rd quarter. State of Wyoming now owns 5,151 shares of the company’s stock worth $269,000 after buying an additional 2,141 shares during the last quarter. 63.56% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Red Violet

In other news, CFO Daniel Maclachlan sold 12,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $57.43, for a total value of $689,160.00. Following the completion of the sale, the chief financial officer directly owned 358,902 shares of the company’s stock, valued at approximately $20,611,741.86. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President James Patrick Reilly sold 12,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $57.43, for a total value of $689,160.00. Following the completion of the sale, the president directly owned 232,351 shares of the company’s stock, valued at $13,343,917.93. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,000 shares of company stock valued at $2,641,880 over the last quarter. Company insiders own 8.90% of the company’s stock.

Red Violet Stock Performance

Red Violet stock opened at $54.08 on Friday. Red Violet, Inc. has a fifty-two week low of $33.40 and a fifty-two week high of $64.14. The company has a market capitalization of $763.01 million, a P/E ratio of 56.33 and a beta of 1.86. The stock has a 50-day simple moving average of $43.27 and a 200-day simple moving average of $46.70.

Red Violet (NASDAQ:RDVT) last posted its earnings results on Wednesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.14. Red Violet had a return on equity of 14.30% and a net margin of 14.99%.The business had revenue of $25.83 million during the quarter, compared to the consensus estimate of $24.63 million. As a group, analysts forecast that Red Violet, Inc. will post 1.06 earnings per share for the current year.

Analysts Set New Price Targets

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

Red Violet Company Profile

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.