Y Intercept Hong Kong Ltd Raises Stock Holdings in Red Violet, Inc. $RDVT

Key Points

• Y Intercept Hong Kong Ltd boosted its Red Violet stake by 182.9% in Q1, ending with 58,240 shares worth about $2.0 million.
• Insiders sold shares recently, including CEO Derek Dubner and insider Jeffrey Alan Dell, with $2.64 million in insider stock sales over the last 90 days.
• Red Violet beat earnings expectations in its latest quarter, reporting $0.46 EPS versus $0.32 expected, while analysts currently rate the stock a Moderate Buy with a $62 price target.

Y Intercept Hong Kong Ltd increased its holdings in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) by 182.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,240 shares of the company's stock after acquiring an additional 37,653 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.41% of Red Violet worth $2,015,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Red Violet by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 956,443 shares of the company's stock worth $54,469,000 after purchasing an additional 23,736 shares during the period. Wasatch Advisors LP boosted its stake in Red Violet by 13.8% in the first quarter. Wasatch Advisors LP now owns 911,636 shares of the company's stock valued at $31,543,000 after acquiring an additional 110,421 shares during the last quarter. Ophir Asset Management Pty Ltd boosted its stake in Red Violet by 0.7% in the fourth quarter. Ophir Asset Management Pty Ltd now owns 638,598 shares of the company's stock valued at $36,368,000 after acquiring an additional 4,372 shares during the last quarter. Ashford Capital Management Inc. grew its position in shares of 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 acquiring an additional 22,110 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Red Violet by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 337,481 shares of the company's stock valued at $19,224,000 after acquiring an additional 16,657 shares during the period. Institutional investors own 63.56% of the company's stock.

Insider Activity

In other news, insider Jeffrey Alan Dell sold 10,000 shares of the business's stock in a transaction 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 completion of the transaction, the insider directly owned 155,889 shares in the company, valued at $8,954,264.16. The trade was a 6.03% decrease in their position. The transaction 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 stock in a transaction on Monday, June 1st. The stock was sold at an average price of $57.43, for a total value of $689,160.00. Following the completion of the sale, the chief executive officer owned 557,273 shares in the company, valued at $32,004,188.39. This trade represents a 2.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,000 shares of company stock valued at $2,641,880 over the last 90 days. Company insiders own 8.90% of the company's stock.

Wall Street Analyst Weigh In

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

Red Violet Stock Down 1.6%

Shares of NASDAQ RDVT opened at $66.17 on Thursday. Red Violet, Inc. has a 52 week low of $33.40 and a 52 week high of $69.59. The business has a 50-day simple moving average of $53.48 and a two-hundred day simple moving average of $47.43. The company has a market cap of $933.66 million, a P/E ratio of 68.93 and a beta of 1.83.

Red Violet (NASDAQ:RDVT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.14. The firm had revenue of $25.83 million for the quarter, compared to analysts' expectations of $24.63 million. Red Violet had a return on equity of 14.30% and a net margin of 14.99%. Equities research analysts anticipate that Red Violet, Inc. will post 1.06 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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