Precision Wealth Strategies LLC Buys Shares of 21,341 Red Violet, Inc. $RDVT

Key Points

• Precision Wealth Strategies LLC opened a new position in Red Violet, buying 21,341 shares valued at about $738,000 in the first quarter, giving it roughly 0.15% ownership.
• Institutional interest remains notable, with several firms recently increasing stakes and institutions now holding 63.56% of Red Violet’s shares.
• Red Violet’s recent results and market sentiment are mixed: the company beat quarterly earnings and revenue estimates, but insider selling and a recent analyst downgrade helped keep the stock’s rating at Moderate Buy with a $62 target price.

Precision Wealth Strategies LLC purchased a new position in Red Violet, Inc. (NASDAQ:RDVT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 21,341 shares of the company's stock, valued at approximately $738,000. Precision Wealth Strategies LLC owned approximately 0.15% of Red Violet at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. State of Wyoming lifted its holdings in shares of Red Violet by 5.4% during the 4th quarter. State of Wyoming now owns 5,430 shares of the company's stock worth $309,000 after acquiring an additional 279 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 acquiring an additional 312 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Red Violet by 145.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company's stock valued at $32,000 after acquiring an additional 336 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Red Violet by 414.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company's stock valued at $27,000 after purchasing an additional 377 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Red Violet by 4.9% during the fourth quarter. Deutsche Bank AG now owns 9,116 shares of the company's stock valued at $519,000 after purchasing an additional 426 shares in the last quarter. Institutional investors own 63.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RDVT. Zacks Research cut Red Violet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Weiss Ratings reissued a "hold (c+)" rating on shares of Red Violet in a report on Friday, May 8th. Finally, Wall Street Zen upgraded Red Violet from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

Red Violet Stock Down 1.4%

NASDAQ RDVT opened at $65.21 on Friday. The company has a 50-day simple moving average of $56.94 and a two-hundred day simple moving average of $48.01. Red Violet, Inc. has a 12-month low of $33.40 and a 12-month high of $69.65. The firm has a market cap of $920.11 million, a price-to-earnings ratio of 67.93 and a beta of 1.83.

Red Violet (NASDAQ:RDVT - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.46 EPS 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 firm had revenue of $25.83 million for the quarter, compared to the consensus estimate of $24.63 million. Equities analysts expect that Red Violet, Inc. will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Red Violet news, CEO Derek Dubner 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 transaction, the chief executive officer directly owned 557,273 shares of the company's stock, valued at $32,004,188.39. The trade was a 2.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel Maclachlan sold 12,000 shares of the business's 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 owned 358,902 shares of the company's stock, valued at $20,611,741.86. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 46,000 shares of company stock valued at $2,641,880 in the last 90 days. 8.90% of the stock is owned by 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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