Insider Selling: Red Violet (NASDAQ:RDVT) President Sells $689,160.00 in Stock

Red Violet, Inc. (NASDAQ:RDVT) President James Patrick Reilly sold 12,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $57.43, for a total transaction of $689,160.00. Following the sale, the president directly owned 232,351 shares of the company’s stock, valued at approximately $13,343,917.93. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Red Violet Price Performance

Shares of RDVT opened at $53.36 on Thursday. Red Violet, Inc. has a 1 year low of $33.40 and a 1 year high of $64.14. The company has a 50 day simple moving average of $42.94 and a two-hundred day simple moving average of $46.73. The firm has a market cap of $752.91 million, a P/E ratio of 55.58 and a beta of 1.86.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $24.63 million. On average, sell-side analysts anticipate that Red Violet, Inc. will post 1.06 earnings per share for the current year.

Hedge Funds Weigh In On Red Violet

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its position in Red Violet by 414.3% during 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 during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Red Violet by 145.5% during the fourth 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 during the last quarter. Tower Research Capital LLC TRC lifted its position in Red Violet by 160.6% during the second 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 last quarter. Kemnay Advisory Services Inc. bought a new position in Red Violet during the fourth quarter valued at $103,000. Finally, State of Alaska Department of Revenue lifted its position in Red Violet by 203.9% during the fourth quarter. State of Alaska Department of Revenue now owns 1,933 shares of the company’s stock valued at $109,000 after purchasing an additional 1,297 shares during the last quarter. Institutional investors own 63.56% of the company’s stock.

Analysts Set New Price Targets

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

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.