Red Violet (NASDAQ:RDVT) Upgraded to Buy at Wall Street Zen

Red Violet (NASDAQ:RDVT) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other equities analysts have also recently commented on the stock. Zacks Research cut shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Red Violet in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.00.

Red Violet Stock Performance

NASDAQ:RDVT opened at $65.52 on Friday. Red Violet has a 1 year low of $33.40 and a 1 year high of $67.68. The stock has a market cap of $924.49 million, a price-to-earnings ratio of 68.25 and a beta of 1.83. The business has a fifty day moving average of $51.72 and a 200-day moving average of $47.21.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating 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 business had revenue of $25.83 million for the quarter, compared to analysts’ expectations of $24.63 million. On average, equities research analysts predict that Red Violet will post 1.06 EPS for the current year.

Insider Transactions at Red Violet

In related news, President James Patrick Reilly sold 12,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $57.43, for a total transaction of $689,160.00. Following the completion of the transaction, the president owned 232,351 shares of the company’s stock, valued at $13,343,917.93. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey Alan Dell sold 10,000 shares of Red Violet stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $57.44, for a total value of $574,400.00. Following the transaction, the insider directly owned 155,889 shares in the company, valued at approximately $8,954,264.16. The trade was a 6.03% 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 worth $2,641,880 over the last 90 days. 8.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Red Violet

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Red Violet by 414.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock valued at $27,000 after acquiring an additional 377 shares during the period. Caitong International Asset Management Co. Ltd increased its position 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 worth $32,000 after buying an additional 336 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Red Violet by 160.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock valued at $51,000 after acquiring an additional 636 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Red Violet in the 4th quarter worth approximately $103,000. Finally, State of Alaska Department of Revenue grew its holdings 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 last quarter. 63.56% of the stock is owned by institutional investors and hedge funds.

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.