Red Violet, Inc. $RDVT Holdings Lifted by Ashford Capital Management Inc.

Key Points

• Ashford Capital Management increased its Red Violet stake by 3.8% in the fourth quarter, owning 602,818 shares worth about $34.3 million and making RDVT its 4th-largest holding.
• Red Violet posted better-than-expected quarterly results, with EPS of $0.46 versus a $0.32 estimate and revenue of $25.83 million versus $24.63 million expected.
• Despite the strong earnings, insiders sold shares recently, including the CFO and president each selling 12,000 shares at $57.43, while analysts currently rate the stock a Moderate Buy with an average target price of $62.00.

Ashford Capital Management Inc. increased its holdings in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 602,818 shares of the company's stock after buying an additional 22,110 shares during the quarter. Red Violet accounts for approximately 3.8% of Ashford Capital Management Inc.'s holdings, making the stock its 4th biggest position. Ashford Capital Management Inc. owned approximately 4.28% of Red Violet worth $34,330,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RDVT. AQR Capital Management LLC acquired a new stake in Red Violet during the 1st quarter worth about $3,826,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 acquiring an additional 312 shares during the period. Creative Planning acquired a new stake in Red Violet during the 2nd quarter worth about $338,000. JPMorgan Chase & Co. grew its stake in Red Violet by 5.5% in the second quarter. JPMorgan Chase & Co. now owns 38,120 shares of the company's stock valued at $1,876,000 after purchasing an additional 1,990 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Red Violet by 143.5% in the second quarter. Legal & General Group Plc now owns 2,888 shares of the company's stock valued at $142,000 after purchasing an additional 1,702 shares in the last quarter. 63.56% of the stock is currently owned by institutional investors and hedge funds.

Red Violet Stock Performance

Shares of RDVT stock opened at $55.69 on Wednesday. The stock's 50 day simple moving average is $46.29 and its 200 day simple moving average is $46.73. Red Violet, Inc. has a twelve month low of $33.40 and a twelve month high of $64.14. The company has a market capitalization of $785.79 million, a price-to-earnings ratio of 58.01 and a beta of 1.86.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings restated a "hold (c+)" rating on shares of Red Violet in a research note on Friday, May 8th. Zacks Research downgraded Red Violet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded Red Violet from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Red Violet presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

Insiders Place Their Bets

In related news, CFO Daniel Maclachlan sold 12,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $57.43, for a total transaction of $689,160.00. Following the completion of the transaction, the chief financial officer owned 358,902 shares of the company's stock, valued at approximately $20,611,741.86. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President James Patrick Reilly sold 12,000 shares of the business's stock in a transaction dated 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 directly owned 232,351 shares of the company's stock, valued at $13,343,917.93. This represents a 4.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,000 shares of company stock worth $2,641,880 over the last quarter. 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.

Want to see what other hedge funds are holding RDVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Violet, Inc. (NASDAQ:RDVT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.