Red Violet (NASDAQ:RDVT) Stock Rating Lowered by Zacks Research

Red Violet (NASDAQ:RDVT) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

Several other equities analysts have also commented on the stock. Wall Street Zen raised shares of Red Violet from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Raymond James Financial started coverage on shares of Red Violet in a research report on Thursday, September 17th. They issued an “outperform” rating and a $90.00 target price for the company. Weiss Ratings raised shares of Red Violet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 13th. Lake Street Capital upped their price target on shares of Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, B. Riley Financial increased their price target on shares of Red Violet from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Red Violet currently has an average rating of “Moderate Buy” and a consensus price target of $83.50.

Red Violet Stock Performance

Shares of NASDAQ RDVT opened at $78.56 on Tuesday. Red Violet has a 52 week low of $33.40 and a 52 week high of $81.79. The stock has a market capitalization of $1.26 billion, a P/E ratio of 66.31 and a beta of 1.79. The stock’s fifty day moving average is $75.29 and its 200 day moving average is $61.64.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.50 EPS for the quarter, beating 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 business had revenue of $26.72 million during the quarter, compared to the consensus estimate of $25.62 million. Equities research analysts forecast that Red Violet will post 1.18 earnings per share for the current year.

Insider Activity at Red Violet

In other Red Violet news, Director William Livek acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was acquired at an average cost of $71.49 per share, for a total transaction of $142,980.00. Following the transaction, the director directly owned 22,733 shares in the company, valued at $1,625,182.17. This represents a 9.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Red Violet

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Red Violet in the second quarter valued at about $60,582,000. Wasatch Advisors LP lifted its holdings in shares of Red Violet by 13.8% in the first quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock worth $31,543,000 after acquiring an additional 110,421 shares during the last quarter. Ashford Capital Management Inc. lifted its holdings in shares of Red Violet by 13.9% in the first quarter. Ashford Capital Management Inc. now owns 686,816 shares of the company’s stock worth $23,764,000 after acquiring an additional 83,998 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Red Violet by 18.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 206,698 shares of the company’s stock valued at $7,151,000 after purchasing an additional 32,189 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Red Violet by 16.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock valued at $5,703,000 after purchasing an additional 23,816 shares in the last quarter. 63.56% of the stock is owned by institutional investors and hedge funds.

Red Violet Company Profile

Red Violet, Inc (NASDAQ: RDVT) is a technology company that develops cloud-based identity intelligence and information solutions. Its platform helps organizations access, analyze and connect data to support investigations, risk management, fraud prevention, compliance and other decision-making activities.

The company’s products include idiCORE, an investigative and information services platform designed for users such as law enforcement agencies, government organizations, corporate security teams, insurance companies, financial institutions, collection agencies and other businesses.