Red Violet (NASDAQ:RDVT) Rating Lowered to “Hold” at Zacks Research

Red Violet (NASDAQ:RDVT) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also commented on the company. Weiss Ratings lowered Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Wall Street Zen lowered Red Violet from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Red Violet Trading Up 0.5%

RDVT stock opened at $40.42 on Monday. The firm has a market cap of $570.33 million, a PE ratio of 44.91 and a beta of 1.71. The business’s 50-day moving average price is $39.35 and its two-hundred day moving average price is $47.32. Red Violet has a 1-year low of $33.40 and a 1-year high of $64.14.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The company had revenue of $23.39 million for the quarter, compared to analyst estimates of $22.00 million. Red Violet had a return on equity of 12.88% and a net margin of 14.57%. On average, analysts forecast that Red Violet will post 1.03 earnings per share for the current year.

Institutional Trading of Red Violet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Red Violet by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 956,443 shares of the company’s stock worth $54,469,000 after acquiring an additional 23,736 shares in the last quarter. Wasatch Advisors LP raised its holdings in Red Violet by 13.8% during the first quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock worth $31,543,000 after acquiring an additional 110,421 shares in the last quarter. Ophir Asset Management Pty Ltd raised its holdings in Red Violet by 0.7% during the fourth quarter. Ophir Asset Management Pty Ltd now owns 638,598 shares of the company’s stock worth $36,368,000 after acquiring an additional 4,372 shares in the last quarter. Ashford Capital Management Inc. raised its holdings in Red Violet by 3.8% during the fourth quarter. Ashford Capital Management Inc. now owns 602,818 shares of the company’s stock worth $34,330,000 after acquiring an additional 22,110 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Red Violet by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 337,481 shares of the company’s stock worth $19,224,000 after acquiring an additional 16,657 shares in the last quarter. Institutional investors own 63.56% of the company’s stock.

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.