Red Violet (NASDAQ:RDVT) Director William Paul Livek Buys 2,000 Shares

Key Points

• Director William Paul Livek bought 2,000 Red Violet shares at an average price of $71.49, investing $142,980 and increasing his ownership by 9.65% to 22,733 shares.
• Red Violet reported quarterly EPS of $0.50, beating estimates of $0.33, while revenue of $26.72 million also exceeded expectations.
• RDVT shares traded near $72, close to their 52-week high of $74.20. Analysts maintain a “Moderate Buy” consensus with an average price target of $77, while institutional investors own 63.56% of the stock.

Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) Director William Paul Livek acquired 2,000 shares of the firm's stock in a transaction dated Thursday, August 27th. The shares were purchased at an average price of $71.49 per share, with a total value of $142,980.00. Following the acquisition, the director owned 22,733 shares of the company's stock, valued at approximately $1,625,182.17. This represents a 9.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Red Violet Price Performance

Shares of NASDAQ:RDVT traded up $2.50 during trading on Thursday, reaching $72.00. 381,482 shares of the stock were exchanged, compared to its average volume of 164,337. Red Violet, Inc. has a 1-year low of $33.40 and a 1-year high of $74.20. The stock has a fifty day moving average of $65.67 and a two-hundred day moving average of $51.50. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 64.29 and a beta of 1.83.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDVT. Arrowstreet Capital Limited Partnership grew its stake in Red Violet by 16.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 164,818 shares of the company's stock valued at $5,703,000 after purchasing an additional 23,816 shares during the period. Y Intercept Hong Kong Ltd raised its stake in shares of 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 purchasing an additional 37,653 shares during the period. Ashford Capital Management Inc. boosted its holdings in shares of Red Violet by 13.9% in the 1st quarter. Ashford Capital Management Inc. now owns 686,816 shares of the company's stock worth $23,764,000 after buying an additional 83,998 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Red Violet by 581.8% in 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 last quarter. Finally, Dimensional Fund Advisors LP grew its position in Red Violet by 18.4% during the first quarter. Dimensional Fund Advisors LP now owns 206,698 shares of the company's stock valued at $7,151,000 after buying an additional 32,189 shares during the period. 63.56% of the stock is currently owned by hedge funds and other institutional investors.

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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