Red Violet, Inc. $RDVT Shares Newly Acquired by State of Wyoming

State of Wyoming purchased a new position in Red Violet, Inc. (NASDAQ:RDVT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,969 shares of the company’s stock, valued at approximately $630,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in Red Violet in the 2nd quarter valued at about $1,180,000. Bank of New York Mellon Corp purchased a new position in shares of Red Violet during the second quarter worth approximately $2,323,000. 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 worth $1,385,000 after acquiring an additional 15,912 shares during the period. Y Intercept Hong Kong Ltd increased its position in shares of Red Violet by 182.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 58,240 shares of the company’s stock worth $2,015,000 after acquiring an additional 37,653 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Red Violet by 16.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company’s stock valued at $5,703,000 after acquiring an additional 23,816 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Insider Buying and Selling

In other news, Director William Livek purchased 2,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was acquired 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 owned 22,733 shares in the company, valued at $1,625,182.17. This represents a 9.65% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.90% of the company’s stock.

Red Violet Stock Performance

Shares of NASDAQ RDVT opened at $80.00 on Monday. The stock has a market capitalization of $1.28 billion, a PE ratio of 71.43 and a beta of 1.79. The stock’s fifty day simple moving average is $76.63 and its two-hundred day simple moving average is $57.09. Red Violet, Inc. has a 12-month low of $33.40 and a 12-month high of $83.15.

Red Violet (NASDAQ:RDVT) last released its quarterly earnings results on Monday, August 10th. The company reported $0.50 EPS for the quarter, topping 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 firm had revenue of $26.72 million during the quarter, compared to analyst estimates of $25.62 million. On average, equities analysts predict that Red Violet, Inc. will post 1.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RDVT shares. Lake Street Capital boosted their price target on 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 Red Violet from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. B. Riley Financial lifted their target price on Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Needham & Company LLC assumed coverage on Red Violet in a research report on Tuesday, September 1st. They set a “buy” rating and a $90.00 target price for the company. Finally, Raymond James Financial assumed coverage on Red Violet in a research note on Thursday, September 17th. They set an “outperform” rating and a $90.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Red Violet presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

About Red Violet

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.