Royal Bank of Canada Sells 51,393 Shares of Red Violet, Inc. $RDVT

Royal Bank of Canada trimmed its position in Red Violet, Inc. (NASDAQ:RDVT) by 18.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,087 shares of the company’s stock after selling 51,393 shares during the quarter. Royal Bank of Canada’s holdings in Red Violet were worth $7,995,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RDVT. EverSource Wealth Advisors LLC increased 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 buying an additional 377 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Red Violet by 145.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 567 shares of the company’s stock valued at $32,000 after buying an additional 336 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Red Violet by 160.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock worth $51,000 after acquiring an additional 636 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Red Violet during the 4th quarter worth about $103,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Red Violet by 203.9% during the 4th quarter. State of Alaska Department of Revenue now owns 1,933 shares of the company’s stock valued at $109,000 after acquiring an additional 1,297 shares in the last quarter. 63.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Red Violet news, CFO Daniel Maclachlan sold 12,000 shares of the 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 sale, the chief financial officer owned 358,902 shares of the company’s stock, valued at $20,611,741.86. This represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President James Patrick Reilly 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 transaction of $689,160.00. Following the sale, the president directly owned 232,351 shares in the company, valued at approximately $13,343,917.93. This represents a 4.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 46,000 shares of company stock valued at $2,641,880. 8.90% of the stock is owned by corporate insiders.

Red Violet Price Performance

Shares of RDVT opened at $65.65 on Tuesday. The company has a market capitalization of $927.63 million, a P/E ratio of 68.39 and a beta of 1.82. Red Violet, Inc. has a one year low of $33.40 and a one year high of $71.19. The business’s 50 day simple moving average is $61.96 and its 200-day simple moving average is $49.46.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.17. The firm had revenue of $26.72 million during the quarter, compared to the consensus estimate of $25.62 million. Red Violet had a return on equity of 14.30% and a net margin of 14.99%. On average, sell-side analysts anticipate that Red Violet, Inc. will post 1.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RDVT. Weiss Ratings reissued a “hold (c+)” rating on shares of Red Violet in a research note on Wednesday, August 5th. Wall Street Zen cut shares of Red Violet from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Zacks Research downgraded Red Violet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, B. Riley Financial upped their price objective on Red Violet from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.50.

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.