Ashford Capital Management Inc. Purchases 83,998 Shares of Red Violet, Inc. $RDVT

Key Points

• Ashford Capital Management increased its Red Violet stake by 13.9%, purchasing 83,998 additional shares to hold 686,816 shares, or approximately 4.87% of the company. Institutional investors collectively own 63.56% of RDVT.
• Red Violet reported quarterly EPS of $0.46, beating the $0.32 consensus estimate, while revenue of $25.83 million exceeded expectations of $24.63 million. Analysts project full-year EPS of $1.06.
• RDVT shares opened at $63.01, above the analyst consensus price target of $62.00. Recent analyst actions were mixed, with several firms downgrading the stock to “hold,” while insiders sold 46,000 shares worth approximately $2.64 million over the past 90 days.

Ashford Capital Management Inc. boosted its position in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 13.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 686,816 shares of the company's stock after acquiring an additional 83,998 shares during the quarter. Red Violet accounts for approximately 2.9% of Ashford Capital Management Inc.'s investment portfolio, making the stock its 8th biggest holding. Ashford Capital Management Inc. owned approximately 4.87% of Red Violet worth $23,764,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RDVT. Quantinno Capital Management LP acquired a new position in shares of Red Violet during the 1st quarter worth about $526,000. Renaissance Technologies LLC lifted its stake in Red Violet by 581.8% in the 1st quarter. Renaissance Technologies LLC now owns 113,450 shares of the company's stock valued at $3,925,000 after purchasing an additional 96,810 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Red Violet by 16.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company's stock worth $5,703,000 after purchasing an additional 23,816 shares during the period. Dimensional Fund Advisors LP grew its holdings in Red Violet by 18.4% during the first quarter. Dimensional Fund Advisors LP now owns 206,698 shares of the company's stock worth $7,151,000 after purchasing an additional 32,189 shares during the period. Finally, Precision Wealth Strategies LLC acquired a new position in Red Violet during the first quarter worth approximately $738,000. Institutional investors and hedge funds own 63.56% of the company's stock.

Red Violet Stock Performance

Shares of RDVT stock opened at $63.01 on Tuesday. The company has a market capitalization of $889.07 million, a price-to-earnings ratio of 65.64 and a beta of 1.83. The company has a 50-day simple moving average of $58.91 and a 200 day simple moving average of $48.31. Red Violet, Inc. has a 52 week low of $33.40 and a 52 week high of $69.65.

Red Violet (NASDAQ:RDVT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.14. The business had revenue of $25.83 million for the quarter, compared to analyst estimates of $24.63 million. Red Violet had a net margin of 14.99% and a return on equity of 14.30%. Sell-side analysts forecast that Red Violet, Inc. will post 1.06 EPS for the current year.

Insider Transactions at Red Violet

In other news, insider Jeffrey Alan Dell sold 10,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $57.44, for a total transaction of $574,400.00. Following the transaction, the insider owned 155,889 shares in the company, valued at approximately $8,954,264.16. This trade represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President James Patrick Reilly sold 12,000 shares of Red Violet stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $57.43, for a total value of $689,160.00. Following the sale, the president directly owned 232,351 shares of the company's stock, valued at approximately $13,343,917.93. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 46,000 shares of company stock worth $2,641,880. Insiders own 8.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on RDVT shares. Zacks Research lowered Red Violet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Red Violet in a research note on Friday, May 8th. Finally, Wall Street Zen lowered Red Violet from a "buy" rating to a "hold" rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $62.00.

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.

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