Red Violet (NASDAQ:RDVT) CFO Sells $689,160.00 in Stock

Red Violet, Inc. (NASDAQ:RDVT) CFO Daniel Maclachlan sold 12,000 shares of the business’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 sale, the chief financial officer directly owned 358,902 shares in the company, valued at $20,611,741.86. The trade was a 3.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Red Violet Price Performance

NASDAQ:RDVT opened at $53.36 on Thursday. Red Violet, Inc. has a one year low of $33.40 and a one year high of $64.14. The company’s 50-day simple moving average is $42.94 and its 200 day simple moving average is $46.73. The firm has a market capitalization of $752.91 million, a P/E ratio of 55.58 and a beta of 1.86.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $24.63 million. On average, equities research analysts expect that Red Violet, Inc. will post 1.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Zacks Research lowered shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Red Violet in a research note on Friday, May 8th. Finally, Wall Street Zen lowered shares of Red Violet from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings 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 buying an additional 377 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Red Violet by 145.5% in 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 holdings in Red Violet by 160.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock worth $51,000 after buying an additional 636 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in Red Violet in the fourth quarter worth about $103,000. Finally, State of Alaska Department of Revenue raised its holdings in Red Violet by 203.9% in the fourth quarter. State of Alaska Department of Revenue now owns 1,933 shares of the company’s stock worth $109,000 after buying an additional 1,297 shares during the last quarter. 63.56% of the stock is owned by hedge funds and other institutional investors.

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.