GSA Capital Partners LLP Invests $783,000 in Red Violet, Inc. $RDVT

GSA Capital Partners LLP bought a new position in shares of Red Violet, Inc. (NASDAQ:RDVT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,285 shares of the company’s stock, valued at approximately $783,000.

Several other large investors have also added to or reduced their stakes in RDVT. EverSource Wealth Advisors LLC grew its position in Red Violet by 414.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock valued at $27,000 after purchasing an additional 377 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Red Violet by 145.5% during the 4th 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 in the last quarter. Tower Research Capital LLC TRC lifted its position in Red Violet by 160.6% during the 2nd 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 in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Red Violet during the 4th quarter worth about $103,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of Red Violet by 203.9% during the 4th 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. Institutional investors and hedge funds own 63.56% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Derek Dubner sold 12,000 shares of the stock in a transaction dated 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 chief executive officer directly owned 557,273 shares of the company’s stock, valued at $32,004,188.39. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Alan Dell sold 10,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $57.44, for a total transaction of $574,400.00. Following the completion of the transaction, the insider directly owned 155,889 shares in the company, valued at $8,954,264.16. The trade was a 6.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 46,000 shares of company stock worth $2,641,880. Company insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RDVT shares. B. Riley Financial raised their price objective on Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Zacks Research cut Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Wall Street Zen raised Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Lake Street Capital upped their price objective on Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Red Violet in a research note on Wednesday, August 5th. Two investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Red Violet Stock Up 2.3%

NASDAQ:RDVT opened at $69.76 on Thursday. Red Violet, Inc. has a 12-month low of $33.40 and a 12-month high of $74.20. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 62.29 and a beta of 1.83. The stock’s 50 day moving average price is $64.21 and its two-hundred day moving average price is $50.52.

Red Violet (NASDAQ:RDVT) last issued its earnings results on Monday, August 10th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.33 by $0.17. The company 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%. Equities research analysts expect that Red Violet, Inc. will post 1.06 EPS for the current year.

Red Violet 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.