Insider Selling: Red Violet (NASDAQ:RDVT) CFO Sells $237,127.15 in Stock

Red Violet, Inc. (NASDAQ:RDVT) CFO Daniel Maclachlan sold 4,099 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $57.85, for a total transaction of $237,127.15. Following the sale, the chief financial officer owned 359,874 shares in the company, valued at approximately $20,818,710.90. This represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Daniel Maclachlan also recently made the following trade(s):

• On Thursday, November 13th, Daniel Maclachlan sold 1,711 shares of Red Violet stock. The stock was sold at an average price of $56.95, for a total transaction of $97,441.45.
• On Tuesday, November 11th, Daniel Maclachlan sold 2,184 shares of Red Violet stock. The shares were sold at an average price of $57.81, for a total value of $126,257.04.
• On Monday, November 10th, Daniel Maclachlan sold 7,006 shares of Red Violet stock. The shares were sold at an average price of $58.11, for a total value of $407,118.66.

Red Violet Trading Up 1.6%

Shares of RDVT stock opened at $58.43 on Friday. The company has a market capitalization of $816.27 million, a P/E ratio of 75.88 and a beta of 1.76. The business’s 50 day moving average is $52.71 and its two-hundred day moving average is $48.73. Red Violet, Inc. has a 12-month low of $32.23 and a 12-month high of $64.14.

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

Hedge Funds Weigh In On Red Violet

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

Analyst Ratings Changes

RDVT has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Red Violet from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 9th. 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. Weiss Ratings raised shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Finally, B. Riley boosted their price objective on Red Violet from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Red Violet currently has an average rating of “Buy” and a consensus target price 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.