Red Violet (NASDAQ:RDVT) Stock Rating Lowered by Wall Street Zen

Red Violet (NASDAQ:RDVT) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

RDVT has been the topic of several other research reports. B. Riley Financial upped their price target on Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings cut Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 11th. Raymond James Financial started coverage on Red Violet in a report on Thursday. They issued an “outperform” rating and a $90.00 target price on the stock. Needham & Company LLC initiated coverage on Red Violet in a research note on Tuesday, September 1st. They issued a “buy” rating and a $90.00 target price on the stock. Finally, Lake Street Capital raised their price target on Red Violet from $62.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.50.

Red Violet Stock Performance

Shares of NASDAQ:RDVT opened at $75.94 on Friday. The company has a 50-day moving average price of $70.12 and a 200-day moving average price of $55.46. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 67.80 and a beta of 1.81. Red Violet has a 12 month low of $33.40 and a 12 month high of $80.29.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.17. The company had revenue of $26.72 million during the quarter, compared to analyst estimates of $25.62 million. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. As a group, research analysts forecast that Red Violet will post 1.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director William Livek bought 2,000 shares of Red Violet stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average cost of $71.49 per share, with a total value of $142,980.00. Following the acquisition, the director owned 22,733 shares of the company’s stock, valued at $1,625,182.17. The trade was a 9.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Red Violet

Several hedge funds have recently modified their holdings of RDVT. Arrowstreet Capital Limited Partnership lifted its position in Red Violet by 16.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock valued at $5,703,000 after purchasing an additional 23,816 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Red Violet by 182.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 58,240 shares of the company’s stock worth $2,015,000 after buying an additional 37,653 shares in the last quarter. Ashford Capital Management Inc. increased its holdings in shares of Red Violet by 13.9% in the 1st quarter. Ashford Capital Management Inc. now owns 686,816 shares of the company’s stock worth $23,764,000 after buying an additional 83,998 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Red Violet by 18.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 206,698 shares of the company’s stock worth $7,151,000 after buying an additional 32,189 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Red Violet by 581.8% during the 1st quarter. Renaissance Technologies LLC now owns 113,450 shares of the company’s stock valued at $3,925,000 after buying an additional 96,810 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

About Red Violet

Red Violet, Inc (NASDAQ: RDVT) is a technology company that provides data analytics and identity intelligence solutions. Its cloud-based platforms help organizations search, analyze and connect information from public and proprietary data sources to support investigations, risk management, fraud prevention and other decision-making processes.

The company’s products include idiCORE, an investigative and information platform designed for applications such as identity verification, collections, fraud detection and due diligence.