Wasatch Advisors LP Purchases 110,421 Shares of Red Violet, Inc. $RDVT

Wasatch Advisors LP raised its position in Red Violet, Inc. (NASDAQ:RDVT) by 13.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 911,636 shares of the company’s stock after purchasing an additional 110,421 shares during the period. Wasatch Advisors LP owned 6.46% of Red Violet worth $31,543,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RDVT. EverSource Wealth Advisors LLC increased its holdings in shares of Red Violet by 414.3% in 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 grew 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 worth $32,000 after buying an additional 336 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Red Violet by 160.6% in 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. bought a new position in Red Violet in the 4th quarter worth about $103,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of Red Violet by 203.9% in the 4th quarter. State of Alaska Department of Revenue now owns 1,933 shares of the company’s stock valued at $109,000 after acquiring an additional 1,297 shares in the last quarter. 63.56% of the stock is currently owned by hedge funds and other institutional investors.

Red Violet Stock Performance

Shares of NASDAQ:RDVT opened at $60.28 on Friday. The firm has a market capitalization of $850.55 million, a PE ratio of 62.79 and a beta of 1.86. Red Violet, Inc. has a 52-week low of $33.40 and a 52-week high of $64.14. The firm has a fifty day moving average of $49.30 and a 200 day moving average of $46.89.

Red Violet (NASDAQ:RDVT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating 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 business had revenue of $25.83 million for the quarter, compared to the consensus estimate of $24.63 million. On average, sell-side analysts forecast that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.

Insider Transactions at Red Violet

In related news, CFO Daniel Maclachlan 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 transaction of $689,160.00. Following the transaction, the chief financial officer directly owned 358,902 shares of the company’s stock, valued at approximately $20,611,741.86. This trade represents a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey Alan Dell sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $57.44, for a total value of $574,400.00. Following the completion of the sale, the insider directly owned 155,889 shares of the company’s stock, valued at approximately $8,954,264.16. This represents a 6.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 46,000 shares of company stock valued at $2,641,880 over the last 90 days. Company insiders own 8.90% of the company’s stock.

Analyst Ratings Changes

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

Red Violet 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.