Red Violet (NASDAQ:RDVT) CEO Derek Dubner Sells 2,184 Shares of Stock

Red Violet, Inc. (NASDAQ:RDVT) CEO Derek Dubner sold 2,184 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $57.81, for a total value of $126,257.04. Following the completion of the transaction, the chief executive officer directly owned 561,810 shares of the company’s stock, valued at $32,478,236.10. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, November 13th, Derek Dubner sold 1,711 shares of Red Violet stock. The stock was sold at an average price of $56.95, for a total value of $97,441.45.
• 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 transaction of $237,127.15.
• 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 value of $407,118.66.

Red Violet Stock Down 0.6%

Shares of Red Violet stock traded down $0.34 during trading hours on Friday, reaching $57.18. 12,007 shares of the company’s stock were exchanged, compared to its average volume of 97,538. Red Violet, Inc. has a 1 year low of $32.23 and a 1 year high of $64.14. The company has a market capitalization of $798.73 million, a P/E ratio of 74.25 and a beta of 1.76. The business has a fifty day moving average of $52.56 and a two-hundred day moving average of $48.52.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. Red Violet had a return on equity of 12.26% and a net margin of 12.96%.The firm had revenue of $23.08 million during the quarter, compared to analysts’ expectations of $22.64 million. As a group, research analysts predict that Red Violet, Inc. will post 0.51 EPS for the current year.

Hedge Funds Weigh In On Red Violet

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

Analysts Set New Price Targets

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

About Red Violet

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.