Red Violet, Inc. $RDVT Stock: Knights of Columbus Asset Advisors LLC Reduces Position

Knights of Columbus Asset Advisors LLC cut its position in Red Violet, Inc. (NASDAQ:RDVT) by 33.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,055 shares of the company’s stock after selling 13,338 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Red Violet were worth $2,138,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RDVT. Alps Advisors Inc. acquired a new stake in shares of Red Violet during the third quarter worth about $601,000. Calamos Advisors LLC boosted its holdings in shares of Red Violet by 13.9% in the 3rd 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. State of Wyoming acquired a new stake in shares of Red Violet in the third quarter worth $630,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Red Violet in the third quarter worth $490,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Red Violet by 847.5% during the third quarter. Sterling Capital Management LLC now owns 379 shares of the company’s stock worth $30,000 after purchasing an additional 339 shares during the last quarter. 63.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. B. Riley Financial upped their price target on shares of Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Raymond James Financial started coverage on Red Violet in a research note on Thursday, September 17th. They set an “outperform” rating and a $90.00 price objective for the company. Needham & Company LLC upped their target price on Red Violet from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Weiss Ratings lowered Red Violet from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Finally, Zacks Research cut Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 20th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Insiders Place Their Bets

In other Red Violet news, Director William Livek purchased 2,000 shares of the stock in a transaction on Thursday, August 27th. The shares were bought at an average price of $71.49 per share, for a total transaction of $142,980.00. Following the completion of the transaction, the director owned 22,733 shares of the company’s stock, valued at $1,625,182.17. This trade represents a 9.65% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.90% of the company’s stock.

Red Violet Stock Performance

Shares of Red Violet stock opened at $75.14 on Thursday. The firm has a 50-day simple moving average of $77.15 and a two-hundred day simple moving average of $58.09. Red Violet, Inc. has a fifty-two week low of $33.40 and a fifty-two week high of $83.15. The company has a market cap of $1.21 billion, a P/E ratio of 60.07 and a beta of 1.73.

Red Violet (NASDAQ:RDVT) last posted its earnings results on Wednesday, November 4th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Red Violet had a return on equity of 13.34% and a net margin of 16.98%. The firm had revenue of $27.75 million for the quarter, compared to analysts’ expectations of $27.22 million. Equities research analysts forecast that Red Violet, Inc. will post 1.18 EPS for the current year.

About Red Violet

Red Violet, Inc. is a data analytics and identity intelligence company that develops software to help organizations identify people and assess risk. Its platform combines and analyzes information from a range of sources to support identity verification, fraud prevention, investigations and related decisions. The company’s products include idi, an identity intelligence platform for commercial and government users, and FOREWARN, a mobile application designed for real estate professionals to help verify identities and assess potential risks.