Pembroke Management LTD Has $13.13 Million Stock Holdings in Red Violet, Inc. $RDVT

Pembroke Management LTD boosted its stake in Red Violet, Inc. (NASDAQ:RDVT) by 9.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 251,272 shares of the company’s stock after buying an additional 21,550 shares during the quarter. Red Violet makes up about 1.3% of Pembroke Management LTD’s holdings, making the stock its 28th biggest position. Pembroke Management LTD’s holdings in Red Violet were worth $13,129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of RDVT. State of Alaska Department of Revenue acquired a new position in shares of Red Violet in the third quarter worth $33,000. SG Americas Securities LLC grew its stake in Red Violet by 50.5% in the third quarter. SG Americas Securities LLC now owns 4,178 shares of the company’s stock valued at $218,000 after purchasing an additional 1,402 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Red Violet by 15.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 17,112 shares of the company’s stock valued at $894,000 after purchasing an additional 2,232 shares in the last quarter. Calamos Advisors LLC increased its position in Red Violet by 72.6% in the 3rd quarter. Calamos Advisors LLC now owns 72,103 shares of the company’s stock worth $3,767,000 after purchasing an additional 30,338 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Red Violet by 47.8% during the 3rd quarter. CWM LLC now owns 6,039 shares of the company’s stock worth $316,000 after purchasing an additional 1,953 shares in the last quarter. 63.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, President James Patrick Reilly sold 1,711 shares of Red Violet stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $56.95, for a total value of $97,441.45. Following the transaction, the president directly owned 231,078 shares in the company, valued at approximately $13,159,892.10. The trade was a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daniel Maclachlan sold 1,711 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $56.95, for a total value of $97,441.45. Following the transaction, the chief financial officer directly owned 358,163 shares of the company’s stock, valued at $20,397,382.85. This represents a 0.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 55,000 shares of company stock valued at $3,182,463. 8.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on RDVT shares. Lake Street Capital reissued a “buy” rating and issued a $62.00 price target on shares of Red Violet in a research note on Thursday, November 6th. B. Riley raised their price objective on shares of Red Violet from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wall Street Zen raised shares of Red Violet from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Red Violet in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Red Violet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, Red Violet currently has an average rating of “Buy” and a consensus target price of $62.00.

Red Violet Stock Down 2.1%

Shares of Red Violet stock opened at $50.20 on Friday. Red Violet, Inc. has a 12-month low of $32.23 and a 12-month high of $64.14. The stock has a 50 day moving average price of $54.67 and a two-hundred day moving average price of $51.04. The stock has a market capitalization of $707.32 million, a P/E ratio of 65.20 and a beta of 1.69.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. Red Violet had a net margin of 12.96% and a return on equity of 12.26%. The business had revenue of $23.08 million during the quarter, compared to analysts’ expectations of $22.64 million. Sell-side analysts anticipate that Red Violet, Inc. will post 0.51 earnings per share for the current year.

Red Violet 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.