William Paul Livek Acquires 2,000 Shares of Red Violet (NASDAQ:RDVT) Stock

Red Violet, Inc. (NASDAQ:RDVT) Director William Paul Livek bought 2,000 shares of Red Violet stock in a transaction dated Thursday, August 27th. The shares were bought at an average cost of $71.49 per share, with a total value of $142,980.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Red Violet Trading Up 3.6%

Shares of NASDAQ:RDVT traded up $2.50 during mid-day trading on Thursday, reaching $72.00. The company had a trading volume of 381,482 shares, compared to its average volume of 164,337. Red Violet, Inc. has a one year low of $33.40 and a one year high of $74.20. The company’s 50-day moving average price is $65.67 and its 200-day moving average price is $51.50. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 64.29 and a beta of 1.83.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.17. Red Violet had a return on equity of 16.12% and a net margin of 16.54%.The business had revenue of $26.72 million during the quarter, compared to analyst estimates of $25.62 million. On average, research analysts anticipate that Red Violet, Inc. will post 1.16 EPS for the current fiscal year.

Institutional Trading of Red Violet

A number of institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its holdings in Red Violet by 1,547.8% during the 2nd quarter. California State Teachers Retirement System now owns 10,068 shares of the company’s stock valued at $642,000 after buying an additional 9,457 shares in the last quarter. Susquehanna International Group LLP increased its position in shares of Red Violet by 273.5% during the second quarter. Susquehanna International Group LLP now owns 21,729 shares of the company’s stock valued at $1,385,000 after buying an additional 15,912 shares during the period. Bank of America Corp DE purchased a new stake in shares of Red Violet in the second quarter worth about $1,180,000. Man Group plc purchased a new stake in shares of Red Violet in the second quarter worth about $2,618,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Red Violet in the second quarter worth about $763,000. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RDVT. Weiss Ratings raised Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. B. Riley Financial upped their price objective 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. Lake Street Capital increased their target price on shares of Red Violet from $62.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised shares of Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Red Violet presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

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.