Red Violet (NASDAQ:RDVT) Upgraded at Zacks Research

Red Violet (NASDAQ:RDVT) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

RDVT has been the topic of several other research reports. Weiss Ratings lowered Red Violet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. Wall Street Zen lowered Red Violet from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $62.00.

Red Violet Trading Down 0.3%

Shares of NASDAQ RDVT opened at $39.60 on Monday. Red Violet has a 1-year low of $32.23 and a 1-year high of $64.14. The company has a 50-day moving average of $44.64 and a two-hundred day moving average of $50.34. The company has a market cap of $558.76 million, a PE ratio of 44.00 and a beta of 1.67.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. Red Violet had a net margin of 14.57% and a return on equity of 12.88%. The business had revenue of $23.39 million during the quarter, compared to analyst estimates of $22.00 million. As a group, equities research analysts forecast that Red Violet will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in shares of Red Violet by 414.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock worth $27,000 after purchasing an additional 377 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Red Violet by 145.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock valued at $32,000 after purchasing an additional 336 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Red Violet in the 3rd quarter valued at approximately $33,000. Tower Research Capital LLC TRC grew its position in shares of Red Violet by 160.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock valued at $51,000 after purchasing an additional 636 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Red Violet in the 4th quarter valued at approximately $103,000. 63.56% of the stock is owned by institutional investors and hedge funds.

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.