New York State Common Retirement Fund Reduces Stock Holdings in Red Violet, Inc. $RDVT

New York State Common Retirement Fund lowered its holdings in Red Violet, Inc. (NASDAQ:RDVT) by 86.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,282 shares of the company’s stock after selling 129,740 shares during the quarter. New York State Common Retirement Fund owned 0.15% of Red Violet worth $1,060,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Red Violet by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock valued at $248,000 after purchasing an additional 312 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Red Violet by 0.8% in the second quarter. Prudential Financial Inc. now owns 39,407 shares of the company’s stock worth $1,939,000 after buying an additional 332 shares during the last quarter. Osaic Holdings Inc. grew its holdings in Red Violet by 12.5% during the second quarter. Osaic Holdings Inc. now owns 4,486 shares of the company’s stock worth $221,000 after acquiring an additional 500 shares during the period. Tower Research Capital LLC TRC grew its holdings in Red Violet by 160.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock worth $51,000 after acquiring an additional 636 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in Red Violet during the third quarter valued at approximately $33,000. 63.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Red Violet

In related news, CEO Derek Dubner sold 4,099 shares of Red Violet stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $57.85, for a total value of $237,127.15. Following the sale, the chief executive officer directly owned 557,711 shares in the company, valued at approximately $32,263,581.35. The trade was a 0.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Alan Dell sold 2,733 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $57.85, for a total value of $158,104.05. Following the completion of the transaction, the insider owned 157,074 shares in the company, valued at approximately $9,086,730.90. This trade represents a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 21,303 shares of company stock valued at $1,226,733. 8.90% of the stock is owned by corporate insiders.

Red Violet Stock Up 1.3%

RDVT opened at $41.32 on Tuesday. The firm’s fifty day simple moving average is $51.62 and its two-hundred day simple moving average is $50.90. Red Violet, Inc. has a 52-week low of $32.23 and a 52-week high of $64.14. The company has a market cap of $582.20 million, a price-to-earnings ratio of 53.66 and a beta of 1.66.

Analyst Ratings Changes

Several research firms have commented on RDVT. Wall Street Zen lowered Red Violet from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. B. Riley Financial increased their price target on shares of Red Violet from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Red Violet in a research report on Monday, December 29th. Zacks Research downgraded shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Lake Street Capital reissued a “buy” rating and set a $62.00 target price on shares of Red Violet in a research note on Thursday, November 6th. Three 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.00.

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.