Red Violet (NASDAQ:RDVT) Rating Lowered to “Hold” at Wall Street Zen

by · The Cerbat Gem

Red Violet (NASDAQ:RDVT – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other research analysts have also issued reports about the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Red Violet in a research report on Friday, May 8th. Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Read Our Latest Stock Analysis on Red Violet

Red Violet Stock Performance

NASDAQ RDVT opened at $60.86 on Friday. The firm has a market capitalization of $858.73 million, a P/E ratio of 63.40 and a beta of 1.83. The business has a fifty day simple moving average of $58.63 and a 200 day simple moving average of $48.24. Red Violet has a 12 month low of $33.40 and a 12 month high of $69.65.

Red Violet (NASDAQ:RDVT – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.46 earnings per share (EPS) 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. As a group, sell-side analysts predict that Red Violet will post 1.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Red Violet news, CFO Daniel Maclachlan sold 12,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer owned 358,902 shares in the company, valued at $20,611,741.86. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Derek Dubner sold 12,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $57.43, for a total value of $689,160.00. Following the sale, the chief executive officer directly owned 557,273 shares of the company’s stock, valued at approximately $32,004,188.39. This represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,000 shares of company stock worth $2,641,880 over the last 90 days. Company insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Red Violet

Several institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in Red Violet by 414.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock worth $27,000 after acquiring an additional 377 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Red Violet by 145.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock valued at $32,000 after acquiring an additional 336 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Red Violet by 160.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock worth $51,000 after purchasing an additional 636 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Red Violet in the 4th quarter worth approximately $103,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of Red Violet by 203.9% in the 4th quarter. State of Alaska Department of Revenue now owns 1,933 shares of the company’s stock worth $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

(Get Free Report)

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.

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