Red Violet, Inc. $RDVT Shares Sold by Trigran Investments Inc.

Trigran Investments Inc. decreased its stake in Red Violet, Inc. (NASDAQ:RDVT) by 48.2% during the 2nd quarter, Holdings Channel reports. The firm owned 625,970 shares of the company’s stock after selling 582,875 shares during the quarter. Red Violet makes up approximately 5.3% of Trigran Investments Inc.’s investment portfolio, making the stock its 11th largest position. Trigran Investments Inc.’s holdings in Red Violet were worth $30,798,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Acadian Asset Management LLC raised its stake in Red Violet by 84.6% in the 2nd quarter. Acadian Asset Management LLC now owns 71,989 shares of the company’s stock valued at $3,541,000 after purchasing an additional 32,999 shares during the last quarter. Rhumbline Advisers boosted its stake in Red Violet by 2.5% during the 1st quarter. Rhumbline Advisers now owns 16,304 shares of the company’s stock worth $613,000 after purchasing an additional 393 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Red Violet by 63.9% during the first quarter. American Century Companies Inc. now owns 17,380 shares of the company’s stock worth $653,000 after buying an additional 6,776 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Red Violet in the first quarter valued at about $1,885,000. Finally, Voya Investment Management LLC lifted its stake in shares of Red Violet by 54.4% in the first quarter. Voya Investment Management LLC now owns 10,520 shares of the company’s stock worth $395,000 after buying an additional 3,707 shares in the last quarter. Hedge funds and other institutional investors own 63.56% of the company’s stock.

Insider Activity at Red Violet

In related news, CFO Daniel Maclachlan sold 7,006 shares of Red Violet stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $58.11, for a total value of $407,118.66. Following the completion of the sale, the chief financial officer owned 366,157 shares in the company, valued at approximately $21,277,383.27. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Alan Dell sold 4,671 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $58.11, for a total value of $271,431.81. Following the completion of the sale, the insider directly owned 161,263 shares in the company, valued at approximately $9,370,992.93. The trade was a 2.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 55,000 shares of company stock worth $3,182,463. Company insiders own 8.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on RDVT. Lake Street Capital reaffirmed a “buy” rating and set a $62.00 price objective on shares of Red Violet in a research note on Thursday, November 6th. B. Riley upped their price target on Red Violet from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, October 31st. 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 reissued a “buy (b-)” rating on shares of Red Violet in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Red Violet has a consensus rating of “Buy” and a consensus target price of $62.00.

Red Violet Stock Down 4.3%

Shares of Red Violet stock opened at $53.11 on Friday. The firm has a market cap of $748.32 million, a PE ratio of 68.97 and a beta of 1.67. Red Violet, Inc. has a 52 week low of $32.23 and a 52 week high of $64.14. The business’s fifty day simple moving average is $53.68 and its 200-day simple moving average is $49.68.

Red Violet (NASDAQ:RDVT) last announced its earnings results on Wednesday, November 5th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.07. Red Violet had a net margin of 12.96% and a return on equity of 12.26%. The company had revenue of $23.08 million during the quarter, compared to analyst estimates of $22.64 million. As a group, equities analysts expect that Red Violet, Inc. will post 0.51 earnings per share for the current year.

Red Violet 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.