Red Violet (NASDAQ:RDVT) Shares Gap Down – What’s Next?

Red Violet, Inc. (NASDAQ:RDVT)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $49.70, but opened at $46.27. Red Violet shares last traded at $46.0050, with a volume of 9,395 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Zacks Research cut Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Red Violet in a research report on Friday. Finally, Wall Street Zen downgraded shares of Red Violet from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Red Violet Trading Down 0.2%

The firm’s fifty day moving average price is $39.81 and its 200-day moving average price is $47.18. The company has a market cap of $660.70 million, a price-to-earnings ratio of 48.66 and a beta of 1.71.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.14. Red Violet had a return on equity of 14.30% and a net margin of 14.99%.The company had revenue of $25.83 million during the quarter, compared to the consensus estimate of $24.63 million. As a group, research analysts anticipate that Red Violet, Inc. will post 1.03 EPS for the current year.

Hedge Funds Weigh In On Red Violet

Large investors have recently added to or reduced their stakes in the company. State of Wyoming lifted its holdings in shares of Red Violet by 5.4% in the fourth quarter. State of Wyoming now owns 5,430 shares of the company’s stock valued at $309,000 after purchasing an additional 279 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Red Violet by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock valued at $248,000 after acquiring an additional 312 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Red Violet by 145.5% during the 4th 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 during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Red Violet by 414.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock valued at $27,000 after purchasing an additional 377 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Red Violet by 4.9% in the fourth quarter. Deutsche Bank AG now owns 9,116 shares of the company’s stock valued at $519,000 after purchasing an additional 426 shares in the last quarter. Institutional investors own 63.56% of the company’s stock.

About Red Violet

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.