PDT Partners LLC Invests $3.04 Million in Red Violet, Inc. $RDVT

PDT Partners LLC bought a new stake in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 47,698 shares of the company's stock, valued at approximately $3,039,000. PDT Partners LLC owned 0.30% of Red Violet as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RDVT. State of Wyoming grew its holdings in Red Violet by 5.4% in the fourth quarter. State of Wyoming now owns 5,430 shares of the company's stock valued at $309,000 after purchasing an additional 279 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Red Violet by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company's stock worth $248,000 after buying an additional 312 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Red Violet by 145.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company's stock valued at $32,000 after buying an additional 336 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Red Violet by 414.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company's stock valued at $27,000 after buying an additional 377 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Red Violet by 4.9% in the 4th quarter. Deutsche Bank AG now owns 9,116 shares of the company's stock valued at $519,000 after acquiring an additional 426 shares during the period. Institutional investors and hedge funds own 63.56% of the company's stock.

Red Violet Stock Up 0.2%

Shares of RDVT opened at $69.50 on Thursday. Red Violet, Inc. has a 52-week low of $33.40 and a 52-week high of $74.20. The stock has a market cap of $1.12 billion, a PE ratio of 62.05 and a beta of 1.83. The firm's fifty day moving average is $65.67 and its two-hundred day moving average is $51.50.

Red Violet (NASDAQ:RDVT - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.17. The firm had revenue of $26.72 million for the quarter, compared to analyst estimates of $25.62 million. Red Violet had a net margin of 16.54% and a return on equity of 16.12%. As a group, research analysts anticipate that Red Violet, Inc. will post 1.16 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of Red Violet from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Red Violet from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 21st. Zacks Research cut shares of Red Violet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Lake Street Capital boosted their target price on shares of Red Violet from $62.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, B. Riley Financial upped their price target on shares of Red Violet from $65.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $77.00.

Insider Buying and Selling

In other Red Violet news, insider Jeffrey Alan Dell sold 10,000 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $57.44, for a total value of $574,400.00. Following the transaction, the insider directly owned 155,889 shares in the company, valued at $8,954,264.16. The trade was a 6.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President James Patrick Reilly sold 12,000 shares of the stock in a transaction 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 transaction, the president owned 232,351 shares of the company's stock, valued at approximately $13,343,917.93. This represents a 4.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 46,000 shares of company stock worth $2,641,880 in the last three months. Company insiders own 8.90% of the company's stock.

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.

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