Ashford Capital Management Inc. Has $23.76 Million Stake in Red Violet, Inc. $RDVT

Ashford Capital Management Inc. lifted its holdings in Red Violet, Inc. (NASDAQ:RDVT) by 13.9% during the 1st quarter, HoldingsChannel reports. The fund owned 686,816 shares of the company’s stock after acquiring an additional 83,998 shares during the quarter. Red Violet accounts for approximately 2.9% of Ashford Capital Management Inc.’s holdings, making the stock its 8th largest position. Ashford Capital Management Inc.’s holdings in Red Violet were worth $23,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RDVT. AQR Capital Management LLC acquired a new stake in Red Violet in the 1st quarter worth about $3,826,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 valued at $248,000 after purchasing an additional 312 shares during the period. Creative Planning acquired a new position in shares of Red Violet during the 2nd quarter worth approximately $338,000. JPMorgan Chase & Co. grew its position in shares of Red Violet by 5.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 38,120 shares of the company’s stock worth $1,876,000 after purchasing an additional 1,990 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Red Violet by 143.5% during the second quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock worth $142,000 after purchasing an additional 1,702 shares during the period. 63.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RDVT. Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Wall Street Zen downgraded Red Violet from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Red Violet in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Red Violet has an average rating of “Moderate Buy” and an average target price of $62.00.

Insider Activity

In related news, President James Patrick Reilly 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 value of $689,160.00. Following the transaction, the president directly owned 232,351 shares of the company’s stock, valued at $13,343,917.93. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Derek Dubner sold 12,000 shares of the business’s 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 transaction, the chief executive officer owned 557,273 shares of the company’s stock, valued at approximately $32,004,188.39. This represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 46,000 shares of company stock worth $2,641,880. Insiders own 8.90% of the company’s stock.

Red Violet Stock Up 3.5%

RDVT opened at $63.01 on Tuesday. The stock has a market capitalization of $889.07 million, a price-to-earnings ratio of 65.64 and a beta of 1.83. Red Violet, Inc. has a twelve month low of $33.40 and a twelve month high of $69.65. The company has a 50-day simple moving average of $58.91 and a 200 day simple moving average of $48.31.

Red Violet (NASDAQ:RDVT) last released its earnings results on Wednesday, May 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.32 by $0.14. The firm had revenue of $25.83 million for the quarter, compared to analyst estimates of $24.63 million. Red Violet had a net margin of 14.99% and a return on equity of 14.30%. Sell-side analysts anticipate that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.

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.