Red Violet (NASDAQ:RDVT) Downgraded by Wall Street Zen to Hold

by · The Markets Daily

Wall Street Zen lowered shares of Red Violet (NASDAQ:RDVT – Free Report) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts also recently commented on RDVT. Weiss Ratings downgraded Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 11th. Lake Street Capital upped their target price on Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Needham & Company LLC assumed coverage on shares of Red Violet in a report on Tuesday, September 1st. They issued a “buy” rating and a $90.00 price target on the stock. Raymond James Financial assumed coverage on shares of Red Violet in a research report on Thursday. They set an “outperform” rating and a $90.00 price target for the company. Finally, B. Riley Financial lifted their price objective on shares of Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Red Violet presently has an average rating of “Moderate Buy” and a consensus price target of $83.50.

Read Our Latest Stock Analysis on Red Violet

Red Violet Price Performance

Shares of RDVT opened at $75.94 on Friday. The company’s fifty day moving average price is $70.12 and its 200-day moving average price is $55.38. Red Violet has a 1-year low of $33.40 and a 1-year high of $80.29. The firm has a market capitalization of $1.22 billion, a PE ratio of 67.80 and a beta of 1.81.

Red Violet (NASDAQ:RDVT – Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.17. The company had revenue of $26.72 million during the quarter, compared to analysts’ expectations of $25.62 million. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. As a group, research analysts anticipate that Red Violet will post 1.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director William Livek acquired 2,000 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was bought at an average price of $71.49 per share, with a total value of $142,980.00. Following the completion of the acquisition, the director owned 22,733 shares of the company’s stock, valued at approximately $1,625,182.17. This represents a 9.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Red Violet

Several hedge funds have recently modified their holdings of RDVT. Arrowstreet Capital Limited Partnership increased its stake in shares of Red Violet by 16.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock valued at $5,703,000 after purchasing an additional 23,816 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in Red Violet by 182.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 58,240 shares of the company’s stock worth $2,015,000 after purchasing an additional 37,653 shares in the last quarter. Ashford Capital Management Inc. grew its holdings in Red Violet by 13.9% in the first quarter. Ashford Capital Management Inc. now owns 686,816 shares of the company’s stock valued at $23,764,000 after purchasing an additional 83,998 shares during the period. Renaissance Technologies LLC grew its holdings in Red Violet by 581.8% in the first quarter. Renaissance Technologies LLC now owns 113,450 shares of the company’s stock valued at $3,925,000 after purchasing an additional 96,810 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Red Violet by 18.4% in the first quarter. Dimensional Fund Advisors LP now owns 206,698 shares of the company’s stock valued at $7,151,000 after buying an additional 32,189 shares in the last quarter. 63.56% of the stock is owned by hedge funds and other institutional investors.

About Red Violet

(Get Free Report)

Red Violet, Inc (NASDAQ: RDVT) is a technology company that provides data analytics and identity intelligence solutions. Its cloud-based platforms help organizations search, analyze and connect information from public and proprietary data sources to support investigations, risk management, fraud prevention and other decision-making processes.

The company’s products include idiCORE, an investigative and information platform designed for applications such as identity verification, collections, fraud detection and due diligence.

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