Red Violet (NASDAQ:RDVT) Stock Price Down 4.5% – Time to Sell?

Red Violet, Inc. (NASDAQ:RDVT) shares fell 4.5% on Wednesday . The stock traded as low as $73.16 and last traded at $72.18. Approximately 68,431 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 166,496 shares. The stock had previously closed at $75.56.

Wall Street Analyst Weigh In

RDVT has been the subject of a number of research reports. Wall Street Zen raised Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. B. Riley Financial raised their price objective on Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Needham & Company LLC assumed coverage on Red Violet in a report on Tuesday. They set a “buy” rating and a $90.00 target price for the company. Lake Street Capital increased their target price on shares of Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Red Violet has an average rating of “Moderate Buy” and an average target price of $81.33.

Red Violet Stock Performance

The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 68.24 and a beta of 1.81. The firm has a fifty day moving average of $67.87 and a 200-day moving average of $52.87.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.17. Red Violet had a return on equity of 16.12% and a net margin of 16.54%.The company had revenue of $26.72 million for the quarter, compared to analysts’ expectations of $25.62 million. On average, analysts predict that Red Violet, Inc. will post 1.16 EPS for the current year.

Insider Activity at Red Violet

In related news, Director William Livek purchased 2,000 shares of Red Violet stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average cost of $71.49 per share, with a total value of $142,980.00. Following the transaction, the director owned 22,733 shares of the company’s stock, valued at approximately $1,625,182.17. The trade was a 9.65% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.90% of the company’s stock.

Institutional Trading of Red Violet

A number of hedge funds have recently made changes to their positions in RDVT. State of Wyoming grew its holdings in Red Violet by 5.4% during the 4th quarter. State of Wyoming now owns 5,430 shares of the company’s stock valued at $309,000 after purchasing an additional 279 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Red Violet by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock valued at $248,000 after buying an additional 312 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Red Violet by 145.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock valued at $32,000 after buying an additional 336 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 valued at $27,000 after acquiring an additional 377 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Red Violet by 4.9% during the fourth quarter. Deutsche Bank AG now owns 9,116 shares of the company’s stock valued at $519,000 after acquiring an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

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.