Red Violet (NASDAQ:RDVT) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Red Violet (NASDAQ:RDVT) from a buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Other analysts also recently issued research reports about the company. Weiss Ratings raised Red Violet from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 13th. Zacks Research lowered Red Violet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 20th. B. Riley Financial boosted their target price on Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Raymond James Financial assumed coverage on Red Violet in a report on Thursday, September 17th. They issued an “outperform” rating and a $90.00 price target for the company. Finally, Needham & Company LLC raised their price target on Red Violet from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Red Violet Stock Performance

Shares of NASDAQ:RDVT opened at $70.10 on Friday. Red Violet has a 52 week low of $33.40 and a 52 week high of $83.15. The company has a market capitalization of $1.13 billion, a PE ratio of 59.41 and a beta of 1.73. The company has a 50 day moving average price of $77.17 and a two-hundred day moving average price of $57.73.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Red Violet had a net margin of 16.98% and a return on equity of 17.18%. The company had revenue of $27.75 million for the quarter, compared to analysts’ expectations of $27.22 million. On average, sell-side analysts forecast that Red Violet will post 1.18 earnings per share for the current year.

Insider Activity at Red Violet

In other news, Director William Livek purchased 2,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were bought at an average cost of $71.49 per share, for a total transaction of $142,980.00. Following the completion of the acquisition, the director directly owned 22,733 shares in the company, valued at approximately $1,625,182.17. This trade represents a 9.65% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Red Violet

A number of hedge funds and other institutional investors have recently bought and sold shares of RDVT. Aberdeen Group plc acquired a new position in Red Violet during the third quarter worth $1,227,000. Russell Investments Group Ltd. grew its holdings in shares of Red Violet by 31.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 264,673 shares of the company’s stock valued at $20,912,000 after acquiring an additional 63,966 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Red Violet in the 3rd quarter valued at about $1,666,000. Alps Advisors Inc. acquired a new stake in shares of Red Violet in the third quarter valued at about $601,000. Finally, Calamos Advisors LLC increased its position in shares of Red Violet by 13.9% in the third quarter. Calamos Advisors LLC now owns 45,568 shares of the company’s stock valued at $3,600,000 after acquiring an additional 5,563 shares during the last quarter. Institutional investors and hedge funds own 63.56% of the company’s stock.

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.