Red Violet (NASDAQ:RDVT) Hits New 12-Month High - Should You Buy?

Shares of Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $71.19 and last traded at $68.60, with a volume of 279515 shares traded. The stock had previously closed at $69.38.

Analysts Set New Price Targets

Several brokerages have commented on RDVT. Weiss Ratings reiterated a "hold (c+)" rating on shares of Red Violet in a research note on Friday, May 8th. B. Riley Financial boosted their price objective on shares of Red Violet from $65.00 to $81.00 and gave the stock a "buy" rating in a research report on Thursday. Zacks Research cut shares of Red Violet from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Red Violet from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $71.50.

Red Violet Trading Down 1.1%

The firm has a market capitalization of $967.95 million, a PE ratio of 71.46 and a beta of 1.82. The company has a fifty day moving average price of $60.73 and a two-hundred day moving average price of $48.86.

Red Violet (NASDAQ:RDVT - Get Free Report) last released its quarterly 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. The firm had revenue of $25.83 million for the quarter, compared to the consensus estimate of $24.63 million. Red Violet had a return on equity of 14.30% and a net margin of 14.99%. As a group, equities research analysts predict that Red Violet, Inc. will post 1.06 earnings per share for the current year.

Insider Buying and Selling at Red Violet

In other news, insider Jeffrey Alan Dell sold 10,000 shares of Red Violet stock in a transaction on Monday, June 1st. The shares were sold at an average price of $57.44, for a total value of $574,400.00. Following the transaction, the insider directly owned 155,889 shares of the company's stock, valued at $8,954,264.16. The trade was a 6.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Daniel Maclachlan 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 transaction of $689,160.00. Following the sale, the chief financial officer owned 358,902 shares of the company's stock, valued at approximately $20,611,741.86. This represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 46,000 shares of company stock valued at $2,641,880. 8.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Red Violet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 377 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Red Violet by 145.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company's stock valued at $32,000 after acquiring an additional 336 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Red Violet by 160.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company's stock valued at $51,000 after acquiring an additional 636 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Red Violet during the 4th quarter worth approximately $103,000. Finally, State of Alaska Department of Revenue lifted its position in Red Violet by 203.9% during the 4th quarter. State of Alaska Department of Revenue now owns 1,933 shares of the company's stock worth $109,000 after acquiring an additional 1,297 shares during the period. 63.56% of the stock is owned by hedge funds and other institutional investors.

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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