Trigran Investments Inc. Reduces Stock Holdings in Red Violet, Inc. $RDVT

Key Points

• Trigran Investments Inc. cut its Red Violet stake by 5.7% in the fourth quarter, selling 35,311 shares and ending with 581,243 shares valued at about $33.1 million.
• Insider selling picked up in June, with CEO Derek Dubner and insider Jeffrey Alan Dell selling a combined 22,000 shares; insiders have sold 46,000 shares over the past three months.
• Red Violet recently beat quarterly earnings and revenue estimates, reporting $0.46 EPS on $25.83 million in revenue, though several analysts have recently downgraded the stock to Hold and the consensus target price is $62.00.

Trigran Investments Inc. lowered its holdings in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 581,243 shares of the company's stock after selling 35,311 shares during the period. Red Violet makes up 6.5% of Trigran Investments Inc.'s investment portfolio, making the stock its 8th largest holding. Trigran Investments Inc. owned about 4.13% of Red Violet worth $33,102,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. State of Wyoming boosted its stake in Red Violet by 5.4% during the fourth quarter. State of Wyoming now owns 5,430 shares of the company's stock worth $309,000 after acquiring an additional 279 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Red Violet by 5.0% during the first 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 in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Red Violet by 145.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company's stock worth $32,000 after acquiring an additional 336 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Red Violet by 414.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company's stock worth $27,000 after acquiring an additional 377 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Red Violet by 4.9% during the fourth quarter. Deutsche Bank AG now owns 9,116 shares of the company's stock worth $519,000 after acquiring an additional 426 shares in the last quarter. Institutional investors own 63.56% of the company's stock.

Insider Activity at Red Violet

In related news, insider Jeffrey Alan Dell sold 10,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $57.44, for a total transaction of $574,400.00. Following the transaction, the insider owned 155,889 shares in the company, valued at $8,954,264.16. This represents 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 the SEC website. Also, CEO Derek Dubner sold 12,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $57.43, for a total transaction of $689,160.00. Following the transaction, the chief executive officer owned 557,273 shares in the company, valued at approximately $32,004,188.39. This trade represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 46,000 shares of company stock worth $2,641,880 in the last three months. 8.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Red Violet Price Performance

Shares of Red Violet stock opened at $55.00 on Monday. The company has a market cap of $776.05 million, a price-to-earnings ratio of 57.29 and a beta of 1.85. The company's 50 day moving average is $45.49 and its 200 day moving average is $46.72. Red Violet, Inc. has a twelve month low of $33.40 and a twelve month high of $64.14.

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. The company had revenue of $25.83 million for the quarter, compared to the consensus estimate of $24.63 million. Red Violet had a net margin of 14.99% and a return on equity of 14.30%. Sell-side analysts expect that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.

About Red Violet

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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