Red Violet (NASDAQ:RDVT) CEO Derek Dubner Sells 1,711 Shares

Red Violet, Inc. (NASDAQ:RDVT) CEO Derek Dubner sold 1,711 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $56.95, for a total transaction of $97,441.45. Following the transaction, the chief executive officer directly owned 556,000 shares in the company, valued at approximately $31,664,200. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Derek Dubner also recently made the following trade(s):

• On Wednesday, November 12th, Derek Dubner sold 4,099 shares of Red Violet stock. The stock was sold at an average price of $57.85, for a total value of $237,127.15.
• On Tuesday, November 11th, Derek Dubner sold 2,184 shares of Red Violet stock. The stock was sold at an average price of $57.81, for a total value of $126,257.04.
• On Monday, November 10th, Derek Dubner sold 7,006 shares of Red Violet stock. The stock was sold at an average price of $58.11, for a total transaction of $407,118.66.

Red Violet Trading Up 0.4%

RDVT traded up $0.24 during mid-day trading on Friday, hitting $57.75. 21,021 shares of the stock were exchanged, compared to its average volume of 97,582. The firm’s fifty day moving average is $52.56 and its two-hundred day moving average is $48.52. The company has a market cap of $806.77 million, a PE ratio of 75.00 and a beta of 1.76. Red Violet, Inc. has a 1-year low of $32.23 and a 1-year high of $64.14.

Red Violet (NASDAQ:RDVT) last released its earnings results 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 firm had revenue of $23.08 million for the quarter, compared to analyst estimates of $22.64 million. As a group, research analysts anticipate that Red Violet, Inc. will post 0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RDVT shares. B. Riley boosted their price objective on shares of Red Violet from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Lake Street Capital reiterated a “buy” rating and issued a $62.00 price objective on shares of Red Violet in a research note on Thursday, November 6th. Wall Street Zen raised Red Violet from a “hold” rating to a “strong-buy” rating in a report on Sunday, November 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Red Violet in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Institutional Investors Weigh In On Red Violet

Several large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new position in Red Violet in the 2nd quarter worth approximately $25,000. State of Alaska Department of Revenue bought a new stake in Red Violet during the third quarter valued at about $33,000. Nisa Investment Advisors LLC grew its position in shares of Red Violet by 3,125.0% during the first quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company’s stock valued at $39,000 after purchasing an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Red Violet by 160.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,032 shares of the company’s stock worth $51,000 after purchasing an additional 636 shares during the period. Finally, USA Financial Formulas bought a new stake in shares of Red Violet during the second quarter worth $121,000. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Red Violet Company Profile

Red Violet, Inc, a software and services company, specializes in proprietary technologies and applying analytical capabilities to deliver identity intelligence in the United States. It offers idiCORE, an investigative solution used to address various organizational challenges, which include due diligence, risk mitigation, identity authentication, fraud detection and prevention, customer acquisition, and regulatory compliance; and FOREWARN, an app-based solution that provides instant knowledge before face-to-face engagement with a consumer, as well as helps professionals to identify and mitigate risk.