Red Violet, Inc. $RDVT is Trigran Investments Inc.’s 8th Largest Position

Trigran Investments Inc. reduced its holdings in shares of Red Violet, Inc. (NASDAQ:RDVT) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 581,243 shares of the company’s stock after selling 35,311 shares during the period. Red Violet comprises 6.5% of Trigran Investments Inc.’s portfolio, making the stock its 8th largest holding. Trigran Investments Inc.’s holdings in Red Violet were worth $33,102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RDVT. AQR Capital Management LLC purchased a new stake in shares of Red Violet in the first quarter worth $3,826,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Red Violet by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock valued at $248,000 after acquiring an additional 312 shares in the last quarter. Creative Planning purchased a new position in Red Violet during the second quarter valued at $338,000. JPMorgan Chase & Co. grew its stake in Red Violet by 5.5% during the second quarter. JPMorgan Chase & Co. now owns 38,120 shares of the company’s stock valued at $1,876,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Red Violet by 143.5% during the second 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. 63.56% of the stock is owned by hedge funds and other institutional investors.

Red Violet Stock Performance

Red Violet stock opened at $55.00 on Monday. The firm has a 50-day moving average price of $45.49 and a 200-day moving average price of $46.72. The firm has a market capitalization of $776.05 million, a PE ratio of 57.29 and a beta of 1.85. Red Violet, Inc. has a 12-month low of $33.40 and a 12-month high of $64.14.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.32 by $0.14. The company had revenue of $25.83 million for the quarter, compared to the consensus estimate of $24.63 million. Red Violet had a net margin of 14.99% and a return on equity of 14.30%. As a group, sell-side analysts predict that Red Violet, Inc. will post 1.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RDVT. Zacks Research cut shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Red Violet in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Red Violet from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Red Violet currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Insider Activity at Red Violet

In other Red Violet news, CEO Derek Dubner sold 12,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $57.43, for a total transaction of $689,160.00. Following the transaction, the chief executive officer owned 557,273 shares of the company’s stock, valued at approximately $32,004,188.39. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President James Patrick Reilly sold 12,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $57.43, for a total transaction of $689,160.00. Following the transaction, the president directly owned 232,351 shares in the company, valued at $13,343,917.93. This trade represents a 4.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 46,000 shares of company stock worth $2,641,880. 8.90% of the stock is currently owned by corporate insiders.

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.