Quantbot Technologies LP Makes New $1.09 Million Investment in Red Violet, Inc. $RDVT

Quantbot Technologies LP purchased a new stake in shares of Red Violet, Inc. (NASDAQ:RDVT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,037 shares of the company’s stock, valued at approximately $1,086,000. Quantbot Technologies LP owned about 0.12% of Red Violet as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Red Violet during the 2nd quarter valued at $60,582,000. Royal Bank of Canada grew its stake in Red Violet by 247.4% during the 4th quarter. Royal Bank of Canada now owns 282,480 shares of the company’s stock worth $16,088,000 after buying an additional 201,169 shares during the last quarter. Wasatch Advisors LP increased its position in Red Violet by 13.8% during the 1st quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock valued at $31,543,000 after buying an additional 110,421 shares in the last quarter. AQR Capital Management LLC acquired a new position in Red Violet during the 1st quarter valued at about $3,826,000. Finally, Renaissance Technologies LLC raised its stake in Red Violet by 581.8% in the first 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 during the last quarter. 63.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on RDVT shares. B. Riley Financial raised their price target on Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wall Street Zen raised shares of Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Lake Street Capital lifted their target price on shares of Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Red Violet presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Insider Transactions at Red Violet

In related news, CFO Daniel Maclachlan 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 value of $689,160.00. Following the transaction, the chief financial officer owned 358,902 shares in the company, valued at approximately $20,611,741.86. This represents a 3.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Alan Dell sold 10,000 shares of the firm’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 transaction of $574,400.00. Following the transaction, the insider directly owned 155,889 shares of the company’s stock, valued at $8,954,264.16. This represents a 6.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 46,000 shares of company stock worth $2,641,880. 8.90% of the stock is owned by company insiders.

Red Violet Price Performance

Shares of RDVT stock opened at $69.39 on Wednesday. The business has a fifty day moving average of $65.39 and a 200 day moving average of $51.30. Red Violet, Inc. has a 1 year low of $33.40 and a 1 year high of $74.20. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 61.96 and a beta of 1.83.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.17. The business had revenue of $26.72 million for the quarter, compared to the consensus estimate of $25.62 million. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. As a group, equities research analysts expect that Red Violet, Inc. will post 1.16 earnings per share for the current year.

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.