Quantinno Capital Management LP Buys New Position in Red Violet, Inc. $RDVT

Key Points

• Quantinno Capital Management initiated a 15,212-share position in Red Violet valued at approximately $526,000, while institutional investors collectively own 63.56% of the company.
• Red Violet reported quarterly EPS of $0.50, exceeding the $0.33 consensus estimate, and revenue of $26.72 million versus expectations of $25.62 million.
• Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating and an average price target of $77; however, company insiders sold 46,000 shares worth about $2.64 million over the past 90 days.

Quantinno Capital Management LP bought a new stake in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,212 shares of the company's stock, valued at approximately $526,000. Quantinno Capital Management LP owned 0.11% of Red Violet at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RDVT. EverSource Wealth Advisors LLC boosted its holdings in shares of Red Violet by 414.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company's stock valued at $27,000 after acquiring an additional 377 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Red Violet by 145.5% during 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 period. Tower Research Capital LLC TRC raised its holdings in Red Violet by 160.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company's stock worth $51,000 after purchasing an additional 636 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Red Violet during the fourth quarter worth approximately $103,000. Finally, State of Alaska Department of Revenue lifted its position in Red Violet by 203.9% in the fourth quarter. State of Alaska Department of Revenue now owns 1,933 shares of the company's stock worth $109,000 after purchasing an additional 1,297 shares during the period. 63.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RDVT shares. B. Riley Financial increased their price target on Red Violet from $65.00 to $81.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings restated a "hold (c+)" rating on shares of Red Violet in a report on Wednesday, August 5th. Zacks Research cut Red Violet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Lake Street Capital lifted their target price on Red Violet from $62.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of Red Violet from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Red Violet has a consensus rating of "Moderate Buy" and an average price target of $77.00.

Red Violet Stock Performance

Shares of NASDAQ:RDVT opened at $70.53 on Friday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 62.97 and a beta of 1.83. Red Violet, Inc. has a 1-year low of $33.40 and a 1-year high of $74.20. The company has a 50 day moving average price of $64.50 and a 200 day moving average price of $50.69.

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 (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.17. The company had revenue of $26.72 million for the quarter, compared to analysts' expectations of $25.62 million. Red Violet had a return on equity of 16.12% and a net margin of 16.54%. On average, sell-side analysts expect that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey Alan Dell sold 10,000 shares of the business's stock in a transaction 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 sale, the insider directly owned 155,889 shares of the company's stock, valued at $8,954,264.16. The trade was 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 available at this link. Also, CEO Derek Dubner sold 12,000 shares of the company's 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 sale, the chief executive officer directly owned 557,273 shares of the company's stock, valued at approximately $32,004,188.39. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 46,000 shares of company stock valued at $2,641,880 over the last ninety days. 8.90% of the stock is currently owned by company insiders.

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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