Red Violet (NASDAQ:RDVT) Issues Earnings Results

Key Points

• Red Violet beat quarterly expectations: The company reported EPS of $0.50 versus the $0.33 consensus estimate, while revenue reached $26.72 million compared with expectations of $25.62 million. Net margin was 14.99% and return on equity was 14.30%.
• Shares are trading near record highs: RDVT opened at $67.78, compared with a 52-week range of $33.40 to $71.19, and has a market capitalization of approximately $957.8 million. Its price-to-earnings ratio is 71.44.
• Analyst sentiment remains mixed: Two analysts rate the stock Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of $71.50. Meanwhile, insiders have sold 46,000 shares worth about $2.64 million over the past 90 days.

Red Violet (NASDAQ:RDVT - Get Free Report) issued its quarterly earnings data on Monday. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.17, FiscalAI reports. Red Violet had a return on equity of 14.30% and a net margin of 14.99%.The company had revenue of $26.72 million during the quarter, compared to analysts' expectations of $25.62 million.

Red Violet Price Performance

NASDAQ RDVT opened at $67.78 on Tuesday. The business's fifty day moving average is $61.96 and its 200-day moving average is $49.46. The stock has a market capitalization of $957.77 million, a price-to-earnings ratio of 71.44 and a beta of 1.82. Red Violet has a one year low of $33.40 and a one year high of $71.19.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RDVT. Wall Street Zen downgraded Red Violet from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Zacks Research downgraded shares of Red Violet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. B. Riley Financial upped 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. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Red Violet in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $71.50.

Insider Activity at Red Violet

In related news, insider Jeffrey Alan Dell sold 10,000 shares of Red Violet stock in a transaction that occurred 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 sale, the insider owned 155,889 shares of the company's stock, valued at approximately $8,954,264.16. The trade was a 6.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Derek Dubner sold 12,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $57.43, for a total value of $689,160.00. Following the completion of the transaction, the chief executive officer owned 557,273 shares in the company, valued at approximately $32,004,188.39. The trade was a 2.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 46,000 shares of company stock worth $2,641,880 in the last ninety days. Corporate insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Red Violet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDVT. Caitong International Asset Management Co. Ltd lifted its stake in Red Violet by 145.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company's stock worth $32,000 after purchasing an additional 336 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings 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 purchasing an additional 636 shares during the period. Kemnay Advisory Services Inc. bought a new position in Red Violet in the 4th quarter worth $103,000. Legal & General Group Plc boosted its position in Red Violet by 143.5% during the 2nd quarter. Legal & General Group Plc now owns 2,888 shares of the company's stock valued at $142,000 after acquiring an additional 1,702 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Red Violet during the third quarter valued at approximately $201,000. 63.56% of the stock is currently owned by 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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