Red Violet, Inc. $RDVT Shares Sold by Calamos Advisors LLC

Key Points

• Calamos Advisors LLC sharply cut its Red Violet stake by 90.3% in the first quarter, leaving it with 7,863 shares valued at about $272,000.
• Several other institutional investors were active in the stock, while 63.56% of Red Violet remains owned by institutions and hedge funds. Insider ownership is 8.90%.
• Red Violet posted stronger-than-expected quarterly results, with EPS of $0.46 versus $0.32 expected and revenue of $25.83 million beating estimates. Analysts currently have a Moderate Buy rating with a $62 average price target.

Calamos Advisors LLC reduced its holdings in Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 90.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,863 shares of the company's stock after selling 72,901 shares during the quarter. Calamos Advisors LLC owned 0.06% of Red Violet worth $272,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd boosted its position in Red Violet by 182.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 58,240 shares of the company's stock worth $2,015,000 after acquiring an additional 37,653 shares during the period. Madrona Financial Services LLC bought a new position in Red Violet in the 4th quarter valued at about $2,094,000. Vanguard Group Inc. grew its position in Red Violet by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 956,443 shares of the company's stock valued at $54,469,000 after buying an additional 23,736 shares in the last quarter. Ashford Capital Management Inc. increased its stake in Red Violet by 3.8% during the 4th quarter. Ashford Capital Management Inc. now owns 602,818 shares of the company's stock valued at $34,330,000 after buying an additional 22,110 shares during the period. Finally, Wasatch Advisors LP increased 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 valued at $31,543,000 after buying an additional 110,421 shares during the period. 63.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Red Violet

In other news, CEO Derek Dubner 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 transaction, the chief executive officer 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 SEC, which is accessible through this link. Also, CFO Daniel Maclachlan sold 12,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer owned 358,902 shares in the company, valued at $20,611,741.86. The trade was a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 46,000 shares of company stock worth $2,641,880. 8.90% of the stock is currently owned by company insiders.

Red Violet Stock Down 1.4%

Shares of RDVT stock opened at $65.21 on Friday. The stock has a 50-day simple moving average of $56.94 and a 200 day simple moving average of $48.01. Red Violet, Inc. has a fifty-two week low of $33.40 and a fifty-two week high of $69.65. The stock has a market capitalization of $920.11 million, a P/E ratio of 67.93 and a beta of 1.83.

Red Violet (NASDAQ:RDVT - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $25.83 million for the quarter, compared to analyst estimates of $24.63 million. On average, sell-side analysts anticipate that Red Violet, Inc. will post 1.06 earnings per share for the current year.

Analysts Set New Price Targets

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

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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