Insider Selling: Red Violet (NASDAQ:RDVT) President Sells 12,000 Shares of Stock

Red Violet, Inc. (NASDAQ:RDVT) President James Patrick Reilly sold 12,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $57.43, for a total value of $689,160.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Red Violet Stock Up 4.3%

Shares of RDVT traded up $2.46 during midday trading on Monday, reaching $59.30. 418,289 shares of the stock were exchanged, compared to its average volume of 165,628. Red Violet, Inc. has a 12-month low of $33.40 and a 12-month high of $64.14. The firm has a 50 day simple moving average of $42.30 and a 200-day simple moving average of $46.77. The company has a market cap of $836.72 million, a price-to-earnings ratio of 61.77 and a beta of 1.85.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.14. Red Violet had a return on equity of 14.30% and a net margin of 14.99%.The company had revenue of $25.83 million during the quarter, compared to the consensus estimate of $24.63 million. Research analysts expect that Red Violet, Inc. will post 1.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RDVT. EverSource Wealth Advisors LLC raised its holdings in Red Violet by 414.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock worth $27,000 after acquiring an additional 377 shares during the period. 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 acquiring an additional 336 shares during 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 acquiring an additional 636 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Red Violet during the 4th quarter worth $103,000. Finally, State of Alaska Department of Revenue lifted its position in 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 acquiring an additional 1,297 shares during the last quarter. 63.56% of the stock is currently owned by institutional investors and hedge funds.

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.