Red Violet (NASDAQ:RDVT) Hits New 52-Week High – Should You Buy?

Red Violet, Inc. (NASDAQ:RDVT)’s share price hit a new 52-week high on Monday . The stock traded as high as $68.28 and last traded at $68.5010, with a volume of 72036 shares trading hands. The stock had previously closed at $65.52.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RDVT shares. Wall Street Zen upgraded Red Violet from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c+)” rating on shares of Red Violet in a research note on Friday, May 8th. Finally, Zacks Research cut shares of Red Violet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Red Violet Price Performance

The stock has a market capitalization of $975.27 million, a price-to-earnings ratio of 71.73 and a beta of 1.83. The stock has a 50 day moving average price of $51.72 and a 200-day moving average price of $47.17.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.14. Red Violet had a return on equity of 14.30% and a net margin of 14.99%.The company had revenue of $25.83 million for the quarter, compared to analyst estimates of $24.63 million. As a group, research analysts forecast that Red Violet, Inc. will post 1.06 earnings per share for the current year.

Insider Buying and Selling at Red Violet

In related news, President James Patrick Reilly sold 12,000 shares of the company’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 completion of the sale, the president owned 232,351 shares of the company’s stock, valued at approximately $13,343,917.93. This represents a 4.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Alan Dell sold 10,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $57.44, for a total transaction of $574,400.00. Following the completion of 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 46,000 shares of company stock valued at $2,641,880. Insiders own 8.90% of the company’s stock.

Institutional Trading of Red Violet

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming boosted its position in shares of Red Violet by 5.4% during the 4th quarter. State of Wyoming now owns 5,430 shares of the company’s stock valued at $309,000 after acquiring an additional 279 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 worth $248,000 after purchasing an additional 312 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Red Violet by 145.5% during the fourth 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 during the period. EverSource Wealth Advisors LLC boosted its holdings in Red Violet by 414.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 468 shares of the company’s stock valued at $27,000 after purchasing an additional 377 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Red Violet by 4.9% in the 4th quarter. Deutsche Bank AG now owns 9,116 shares of the company’s stock valued at $519,000 after buying an additional 426 shares during the period. 63.56% of the stock is owned by institutional investors and hedge funds.

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.