Dimensional Fund Advisors LP Increases Stock Position in Red Violet, Inc. $RDVT

Key Points

• Dimensional Fund Advisors increased its Red Violet stake by 18.4% in the first quarter, bringing its holdings to 206,698 shares valued at approximately $7.15 million. Institutional investors collectively own 63.56% of the company.
• Red Violet reported quarterly earnings of $0.50 per share, beating estimates of $0.33, while revenue of $26.72 million also exceeded expectations. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $71.50.
• Red Violet shares opened at $65.65, near their 12-month high of $71.19. Despite strong quarterly results, company insiders sold 46,000 shares worth approximately $2.64 million over the past 90 days.

Dimensional Fund Advisors LP raised its stake in Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 18.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,698 shares of the company's stock after acquiring an additional 32,189 shares during the period. Dimensional Fund Advisors LP owned 1.46% of Red Violet worth $7,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd lifted its holdings in shares of Red Violet by 182.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 58,240 shares of the company's stock valued at $2,015,000 after purchasing an additional 37,653 shares during the last quarter. Ashford Capital Management Inc. boosted its position in shares of Red Violet by 3.8% in 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 during the period. Vanguard Group Inc. grew its stake 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 buying an additional 23,736 shares during the last quarter. Wasatch Advisors LP grew its stake in Red Violet by 13.8% during the 1st quarter. Wasatch Advisors LP now owns 911,636 shares of the company's stock worth $31,543,000 after buying an additional 110,421 shares during the last quarter. Finally, Precision Wealth Strategies LLC acquired a new position in Red Violet during the first quarter worth approximately $738,000. Hedge funds and other institutional investors own 63.56% of the company's stock.

Insider Activity

In related news, President James Patrick Reilly sold 12,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $57.43, for a total transaction of $689,160.00. Following the completion of the transaction, the president directly owned 232,351 shares of the company's stock, valued at $13,343,917.93. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Daniel Maclachlan 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 sale, the chief financial officer directly owned 358,902 shares in the company, valued at $20,611,741.86. This represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 46,000 shares of company stock worth $2,641,880 in the last 90 days. Corporate insiders own 8.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RDVT. Weiss Ratings reiterated a "hold (c+)" rating on shares of Red Violet in a research note on Wednesday, August 5th. Wall Street Zen lowered shares of Red Violet from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. B. Riley Financial lifted their target price 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. Finally, Zacks Research downgraded shares of Red Violet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Red Violet has a consensus rating of "Moderate Buy" and an average target price of $71.50.

Red Violet Trading Up 0.2%

NASDAQ:RDVT opened at $65.65 on Tuesday. Red Violet, Inc. has a 12-month low of $33.40 and a 12-month high of $71.19. The stock's 50 day simple moving average is $61.96 and its 200-day simple moving average is $49.46. The firm has a market cap of $927.63 million, a P/E ratio of 68.39 and a beta of 1.82.

Red Violet (NASDAQ:RDVT - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.17. Red Violet had a return on equity of 14.30% and a net margin of 14.99%.The firm had revenue of $26.72 million during the quarter, compared to the consensus estimate of $25.62 million. Research analysts forecast that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.

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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