Evernest Financial Advisors LLC Acquires 15,225 Shares of Red Violet, Inc. $RDVT

Evernest Financial Advisors LLC grew its holdings in Red Violet, Inc. (NASDAQ:RDVT) by 119.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 28,000 shares of the company’s stock after purchasing an additional 15,225 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Red Violet were worth $1,595,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 377 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Red Violet by 145.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock worth $32,000 after acquiring an additional 336 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Red Violet by 160.6% in the second 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 in the last quarter. State of Alaska Department of Revenue grew its position in Red Violet by 203.9% in the fourth quarter. State of Alaska Department of Revenue now owns 1,933 shares of the company’s stock worth $109,000 after acquiring an additional 1,297 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Red Violet by 143.5% in the second quarter. Legal & General Group Plc now owns 2,888 shares of the company’s stock worth $142,000 after acquiring an additional 1,702 shares in the last quarter. 63.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Red Violet

In related news, President James Patrick Reilly sold 12,000 shares of the company’s stock in a transaction 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 completion of the transaction, the president directly owned 232,351 shares in the company, valued at $13,343,917.93. This represents a 4.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Derek Dubner sold 12,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 557,273 shares of the company’s stock, valued at approximately $32,004,188.39. The trade was a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 46,000 shares of company stock valued at $2,641,880 in the last 90 days. 8.90% of the stock is owned by company insiders.

Red Violet Trading Down 1.2%

Shares of Red Violet stock opened at $55.00 on Friday. The firm has a fifty day simple moving average of $45.49 and a 200-day simple moving average of $46.77. Red Violet, Inc. has a 1-year low of $33.40 and a 1-year high of $64.14. The stock has a market capitalization of $776.00 million, a price-to-earnings ratio of 57.29 and a beta of 1.86.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.14. The business had revenue of $25.83 million during the quarter, compared to analysts’ expectations of $24.63 million. Red Violet had a net margin of 14.99% and a return on equity of 14.30%. As a group, research analysts predict that Red Violet, Inc. will post 1.06 earnings per share for the current year.

Red Violet Company 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.