Arrowstreet Capital Limited Partnership Purchases 23,816 Shares of Red Violet, Inc. $RDVT

Key Points

• Arrowstreet Capital increased its Red Violet stake by 16.9% in the first quarter, buying 23,816 shares to hold 164,818 shares worth approximately $5.7 million. Institutional investors collectively own 63.56% of the company.
• Red Violet exceeded quarterly expectations, reporting $0.46 in EPS versus a $0.32 estimate and revenue of $25.83 million versus the $24.63 million consensus. Shares opened at $69.38, near their 52-week high of $69.88.
• Analyst sentiment remains moderately bullish, with a consensus price target of $71.50 and B. Riley raising its target to $81, although several firms maintain Hold ratings. Meanwhile, company insiders sold 46,000 shares worth about $2.64 million over the past 90 days.

Arrowstreet Capital Limited Partnership lifted its position in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,818 shares of the company's stock after buying an additional 23,816 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.17% of Red Violet worth $5,703,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RDVT. Vanguard Group Inc. grew its holdings in Red Violet by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 956,443 shares of the company's stock worth $54,469,000 after acquiring an additional 23,736 shares during the period. Wasatch Advisors LP lifted its stake in shares of Red Violet by 13.8% in the 1st quarter. Wasatch Advisors LP now owns 911,636 shares of the company's stock valued at $31,543,000 after purchasing an additional 110,421 shares during the period. Ophir Asset Management Pty Ltd lifted its stake in shares of Red Violet by 0.7% in the 4th quarter. Ophir Asset Management Pty Ltd now owns 638,598 shares of the company's stock valued at $36,368,000 after purchasing an additional 4,372 shares during the period. Ashford Capital Management Inc. boosted its position in shares of Red Violet by 3.8% during the 4th quarter. Ashford Capital Management Inc. now owns 602,818 shares of the company's stock valued at $34,330,000 after purchasing an additional 22,110 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Red Violet by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 337,481 shares of the company's stock worth $19,224,000 after acquiring an additional 16,657 shares in the last quarter. Institutional investors own 63.56% of the company's stock.

Red Violet Price Performance

Shares of NASDAQ RDVT opened at $69.38 on Monday. The stock has a market capitalization of $978.95 million, a PE ratio of 72.27 and a beta of 1.82. Red Violet, Inc. has a one year low of $33.40 and a one year high of $69.88. The business's fifty day moving average price is $60.37 and its 200-day moving average price is $48.74.

Red Violet (NASDAQ:RDVT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.46 earnings per share 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 analyst estimates of $24.63 million. As a group, equities analysts expect that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

RDVT has been the topic of a number of recent research reports. 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 note on Friday, May 8th. Wall Street Zen downgraded shares of Red Violet from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, B. Riley Financial raised their price target on shares of Red Violet from $65.00 to $81.00 and gave the company a "buy" rating in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $71.50.

Insider Buying and Selling at Red Violet

In related news, President James Patrick Reilly sold 12,000 shares of Red Violet stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $57.43, for a total value of $689,160.00. Following the completion of the transaction, the president directly owned 232,351 shares in the company, valued at approximately $13,343,917.93. The trade was a 4.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel Maclachlan sold 12,000 shares of Red Violet stock in a transaction on Monday, June 1st. The shares were sold at an average price of $57.43, for a total value of $689,160.00. Following the completion of the transaction, the chief financial officer owned 358,902 shares of the company's stock, valued at approximately $20,611,741.86. This trade represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 46,000 shares of company stock valued at $2,641,880 over the last 90 days. 8.90% of the stock is currently owned by corporate insiders.

Red Violet 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.

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