Red Violet (NASDAQ:RDVT) Insider Jeffrey Alan Dell Sells 10,000 Shares

Red Violet, Inc. (NASDAQ:RDVT) insider Jeffrey Alan Dell sold 10,000 shares of Red Violet stock in a transaction on Monday, June 1st. The stock was sold at an average price of $57.44, for a total transaction of $574,400.00. Following the transaction, the insider directly owned 155,889 shares in the company, valued at approximately $8,954,264.16. This represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Red Violet Price Performance

Shares of NASDAQ 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. The business has a 50-day simple moving average of $42.30 and a two-hundred day simple moving average of $46.77. The company has a market capitalization of $836.72 million, a price-to-earnings ratio of 61.77 and a beta of 1.85. Red Violet, Inc. has a 12 month low of $33.40 and a 12 month high of $64.14.

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

Institutional Investors Weigh In On Red Violet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Red Violet by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 956,443 shares of the company’s stock valued at $54,469,000 after buying an additional 23,736 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Red Violet by 13.8% in the 1st quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock valued at $31,543,000 after acquiring an additional 110,421 shares during the period. Ashford Capital Management Inc. grew its position 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 valued at $23,764,000 after acquiring an additional 83,998 shares during the period. Ophir Asset Management Pty Ltd grew its position in shares of Red Violet by 0.7% in the 4th quarter. Ophir Asset Management Pty Ltd now owns 638,598 shares of the company’s stock valued at $36,368,000 after acquiring an additional 4,372 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Red Violet by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 337,481 shares of the company’s stock valued at $19,224,000 after acquiring an additional 16,657 shares during the period. 63.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RDVT. Zacks Research lowered shares of Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Red Violet in a report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Red Violet from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Red Violet presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.