Red Violet (NASDAQ:RDVT) Stock Price Down 5% – Should You Sell?
by Kim Johansen · The Markets DailyRed Violet, Inc. (NASDAQ:RDVT – Get Free Report) traded down 5% on Friday . The stock traded as low as $70.00 and last traded at $70.0450. 38,875 shares were traded during trading, a decline of 76% from the average session volume of 160,530 shares. The stock had previously closed at $73.74.
Wall Street Analyst Weigh In
A number of brokerages have commented on RDVT. Wall Street Zen downgraded shares of Red Violet from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Lake Street Capital lifted their target price on shares of Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Research lowered shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. B. Riley Financial increased their price target on shares of Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Red Violet in a research report on Wednesday, August 5th. Two investment 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, Red Violet currently has an average rating of “Moderate Buy” and an average price target of $77.00.
Get Our Latest Analysis on Red Violet
Red Violet Price Performance
The company has a 50-day simple moving average of $62.95 and a 200-day simple moving average of $49.92. The stock has a market cap of $1.11 billion, a PE ratio of 62.17 and a beta of 1.83.
Red Violet (NASDAQ:RDVT – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.17. The business had revenue of $26.72 million for the quarter, compared to analysts’ expectations of $25.62 million. Red Violet had a net margin of 16.54% and a return on equity of 16.48%. On average, equities analysts expect that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.
Insider Activity at Red Violet
In other news, CEO Derek Dubner sold 12,000 shares of Red Violet stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $57.43, for a total transaction of $689,160.00. Following the completion of the sale, the chief executive officer directly owned 557,273 shares in the company, valued at approximately $32,004,188.39. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President James Patrick Reilly sold 12,000 shares of the business’s stock in a transaction that occurred 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 sale, the president directly owned 232,351 shares in the company, valued at $13,343,917.93. This trade represents a 4.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 46,000 shares of company stock worth $2,641,880 in the last ninety days. Corporate insiders own 8.90% of the company’s stock.
Institutional Trading of Red Violet
A number of institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC purchased a new position in shares of Red Violet in the first quarter valued at $3,826,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Red Violet by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock worth $248,000 after buying an additional 312 shares in the last quarter. Creative Planning acquired a new stake in Red Violet in the 2nd quarter valued at about $338,000. JPMorgan Chase & Co. increased its holdings in Red Violet by 5.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,120 shares of the company’s stock valued at $1,876,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Red Violet by 143.5% during the 2nd quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock valued at $142,000 after acquiring an additional 1,702 shares in the last quarter. 63.56% of the stock is currently owned by hedge funds and other institutional investors.
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.