Red Violet (NASDAQ:RDVT) Sees Strong Trading Volume – Here’s What Happened

Red Violet, Inc. (NASDAQ:RDVT) saw an uptick in trading volume on Monday. 155,992 shares traded hands during trading, a decline of 8% from the previous session’s volume of 170,267 shares. The stock last traded at $73.7190 and had previously closed at $74.00.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RDVT shares. Weiss Ratings raised Red Violet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 13th. Needham & Company LLC started coverage on shares of Red Violet in a research note on Tuesday, September 1st. They issued a “buy” rating and a $90.00 price objective on the stock. Raymond James Financial began coverage on shares of Red Violet in a research note on Thursday, September 17th. They issued an “outperform” rating and a $90.00 price objective on the stock. B. Riley Financial upped their price objective on shares of Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $83.50.

Red Violet Trading Up 2.4%

The stock has a fifty day simple moving average of $75.10 and a two-hundred day simple moving average of $61.34. The company has a market cap of $1.22 billion, a PE ratio of 68.08 and a beta of 1.79.

Red Violet (NASDAQ:RDVT) last issued its earnings results on Monday, August 10th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.17. The business had revenue of $26.72 million during the quarter, compared to the consensus estimate of $25.62 million. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. As a group, equities research analysts anticipate that Red Violet, Inc. will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling at Red Violet

In other Red Violet news, Director William Livek acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were purchased 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 directly owned 22,733 shares of the company’s stock, valued at approximately $1,625,182.17. The trade was a 9.65% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 8.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Red Violet during the second quarter worth about $60,582,000. Wasatch Advisors LP increased its holdings in Red Violet by 13.8% in the first quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock valued at $31,543,000 after buying an additional 110,421 shares in the last quarter. Ashford Capital Management Inc. increased 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 buying an additional 83,998 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Red Violet by 16.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock valued at $5,703,000 after buying an additional 23,816 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Red Violet Company Profile

Red Violet, Inc (NASDAQ: RDVT) is a technology company that develops proprietary data analytics and information solutions for organizations in the public and private sectors. Its platforms are designed to help customers identify individuals and businesses, assess risk, detect potential fraud, and support investigative and compliance-related workflows.

The company’s primary offerings include idiCORE, a cloud-based investigative and information platform, and FOREWARN, a mobile application that provides real estate professionals with identity verification and risk assessment tools.