Daniel Maclachlan Sells 12,000 Shares of Red Violet (NASDAQ:RDVT) Stock

Red Violet, Inc. (NASDAQ:RDVT) CFO Daniel Maclachlan sold 12,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $57.43, for a total value of $689,160.00. Following the sale, the chief financial officer directly owned 358,902 shares in the company, valued at $20,611,741.86. This trade represents a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Red Violet Stock Performance

Shares of RDVT opened at $56.79 on Wednesday. The stock’s 50-day simple moving average is $42.30 and its 200 day simple moving average is $46.77. The stock has a market capitalization of $801.31 million, a price-to-earnings ratio of 59.16 and a beta of 1.86. Red Violet, Inc. has a 52-week low of $33.40 and a 52-week high of $64.14.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings data 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 business had revenue of $25.83 million for the quarter, compared to analysts’ expectations of $24.63 million. Red Violet had a return on equity of 14.30% and a net margin of 14.99%. On average, research analysts forecast that Red Violet, Inc. will post 1.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RDVT has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Red Violet in a report on Friday, May 8th. Zacks Research cut Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Wall Street Zen cut Red Violet from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Hedge Funds Weigh In On Red Violet

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Red Violet by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 956,443 shares of the company’s stock worth $54,469,000 after buying an additional 23,736 shares during the last quarter. Wasatch Advisors LP grew its position in Red Violet by 13.8% during the first quarter. Wasatch Advisors LP now owns 911,636 shares of the company’s stock valued at $31,543,000 after acquiring an additional 110,421 shares during the last quarter. Ashford Capital Management Inc. raised its stake in shares of Red Violet by 13.9% during the first quarter. Ashford Capital Management Inc. now owns 686,816 shares of the company’s stock worth $23,764,000 after acquiring an additional 83,998 shares in the last quarter. Ophir Asset Management Pty Ltd raised its stake in shares of Red Violet by 0.7% during the fourth quarter. Ophir Asset Management Pty Ltd now owns 638,598 shares of the company’s stock worth $36,368,000 after acquiring an additional 4,372 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Red Violet by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 337,481 shares of the company’s stock worth $19,224,000 after acquiring an additional 16,657 shares during the last quarter. 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.