Susquehanna International Group LLP Increases Stock Holdings in Red Violet, Inc. $RDVT

Key Points

• Susquehanna International Group increased its Red Violet stake by 273.5% in the second quarter, bringing its holdings to 21,729 shares worth approximately $1.385 million. Institutional investors collectively own 63.56% of RDVT.
• Analyst sentiment is generally positive: Red Violet has a consensus “Moderate Buy” rating and a $77 target price, with Lake Street Capital and B. Riley recently raising their price targets to $73 and $81, respectively.
• Red Violet exceeded quarterly expectations, reporting $0.50 EPS versus the $0.33 estimate and revenue of $26.72 million. The stock opened at $73.30, near its 12-month high of $74.82.

Susquehanna International Group LLP boosted its stake in Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 273.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,729 shares of the company's stock after acquiring an additional 15,912 shares during the quarter. Susquehanna International Group LLP owned about 0.14% of Red Violet worth $1,385,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RDVT. BlackRock Inc. purchased a new stake in shares of Red Violet during the second quarter valued at approximately $60,582,000. Royal Bank of Canada boosted its stake in shares of Red Violet by 247.4% in the fourth quarter. Royal Bank of Canada now owns 282,480 shares of the company's stock valued at $16,088,000 after purchasing an additional 201,169 shares during the period. Wasatch Advisors LP grew its holdings 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 purchasing an additional 110,421 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Red Violet during the 1st quarter valued at $3,826,000. Finally, Renaissance Technologies LLC increased its stake in Red Violet by 581.8% during the 1st quarter. Renaissance Technologies LLC now owns 113,450 shares of the company's stock worth $3,925,000 after buying an additional 96,810 shares during the period. Institutional investors and hedge funds own 63.56% of the company's stock.

Wall Street Analyst Weigh In

RDVT has been the topic of a number of recent analyst reports. Lake Street Capital boosted their price objective on shares of Red Violet from $62.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Weiss Ratings upgraded Red Violet from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Zacks Research lowered Red Violet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Wall Street Zen upgraded Red Violet from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Finally, B. Riley Financial boosted their price target on Red Violet from $65.00 to $81.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Red Violet presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.00.

Insiders Place Their Bets

In related news, Director William Paul Livek bought 2,000 shares of the company's stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $71.49 per share, with a total value of $142,980.00. Following the transaction, the director owned 22,733 shares of the company's stock, valued at approximately $1,625,182.17. This trade represents a 9.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 8.90% of the stock is currently owned by corporate insiders.

Red Violet Stock Performance

RDVT stock opened at $73.30 on Monday. Red Violet, Inc. has a twelve month low of $33.40 and a twelve month high of $74.82. The company has a market capitalization of $1.18 billion, a P/E ratio of 65.45 and a beta of 1.82. The firm has a 50 day simple moving average of $66.37 and a 200-day simple moving average of $51.95.

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

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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