Globeflex Capital L P Buys Shares of 82,855 Red Violet, Inc. $RDVT

Globeflex Capital L P purchased a new position in Red Violet, Inc. (NASDAQ:RDVT) during the 2nd quarter, Holdings Channel reports. The fund purchased 82,855 shares of the company’s stock, valued at approximately $5,280,000.

Several other institutional investors and hedge funds have also modified their holdings of RDVT. Y Intercept Hong Kong Ltd raised its holdings in Red Violet by 182.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 58,240 shares of the company’s stock worth $2,015,000 after purchasing an additional 37,653 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Red Violet by 16.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock worth $5,703,000 after buying an additional 23,816 shares in the last quarter. Ashford Capital Management Inc. raised its stake 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 buying an additional 83,998 shares during the period. Renaissance Technologies LLC raised its stake in shares of Red Violet by 581.8% in the first quarter. Renaissance Technologies LLC now owns 113,450 shares of the company’s stock worth $3,925,000 after buying an additional 96,810 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Red Violet by 18.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 206,698 shares of the company’s stock valued at $7,151,000 after buying an additional 32,189 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Red Violet

In other Red Violet news, President James Patrick Reilly sold 12,000 shares of the stock in a transaction dated 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 owned 232,351 shares of the company’s stock, 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 at the SEC website. Also, CFO Daniel Maclachlan sold 12,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $20,611,741.86. The trade was a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 46,000 shares of company stock worth $2,641,880 in the last quarter. 8.90% of the stock is owned by company insiders.

Red Violet Price Performance

Red Violet stock opened at $71.17 on Monday. Red Violet, Inc. has a 1 year low of $33.40 and a 1 year high of $74.20. The firm’s 50 day moving average price is $64.83 and its 200-day moving average price is $50.88. The stock has a market cap of $1.14 billion, a P/E ratio of 63.54 and a beta of 1.82.

Red Violet (NASDAQ:RDVT) last issued its earnings results on Monday, August 10th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.17. The firm had revenue of $26.72 million during the quarter, compared to analyst estimates of $25.62 million. Red Violet had a net margin of 16.54% and a return on equity of 16.12%. As a group, equities analysts expect that Red Violet, Inc. will post 1.16 EPS 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.