Red Violet, Inc. $RDVT Stock Position Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its stake in shares of Red Violet, Inc. (NASDAQ:RDVT) by 41.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,022 shares of the company’s stock after acquiring an additional 43,998 shares during the quarter. New York State Common Retirement Fund owned about 1.07% of Red Violet worth $7,381,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pembroke Management LTD raised its holdings in shares of Red Violet by 740.2% in the 1st quarter. Pembroke Management LTD now owns 252,503 shares of the company’s stock worth $9,492,000 after purchasing an additional 222,451 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Red Violet in the first quarter worth approximately $3,826,000. Invesco Ltd. boosted its holdings in shares of Red Violet by 930.3% during the first quarter. Invesco Ltd. now owns 70,259 shares of the company’s stock worth $2,641,000 after purchasing an additional 63,440 shares during the period. Russell Investments Group Ltd. grew its position in Red Violet by 52.0% during the first quarter. Russell Investments Group Ltd. now owns 152,374 shares of the company’s stock valued at $5,728,000 after purchasing an additional 52,130 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Red Violet during the first quarter valued at approximately $1,885,000. 63.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Red Violet from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Red Violet in a report on Monday. Lake Street Capital restated a “buy” rating and issued a $62.00 target price on shares of Red Violet in a research note on Thursday, November 6th. Finally, B. Riley raised their price target 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 equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $62.00.

Red Violet Trading Up 0.7%

Shares of NASDAQ:RDVT opened at $53.46 on Friday. The stock has a market capitalization of $753.25 million, a PE ratio of 69.43 and a beta of 1.67. Red Violet, Inc. has a 1 year low of $32.23 and a 1 year high of $64.14. The firm has a fifty day moving average price of $53.71 and a 200 day moving average price of $49.71.

Red Violet (NASDAQ:RDVT) last posted its earnings results on Wednesday, November 5th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The company had revenue of $23.08 million for the quarter, compared to analyst estimates of $22.64 million. Red Violet had a return on equity of 12.26% and a net margin of 12.96%. On average, sell-side analysts forecast that Red Violet, Inc. will post 0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Red Violet news, CFO Daniel Maclachlan sold 1,711 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $56.95, for a total transaction of $97,441.45. Following the completion of the sale, the chief financial officer owned 358,163 shares of the company’s stock, valued at $20,397,382.85. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Alan Dell sold 1,140 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $56.95, for a total value of $64,923.00. Following the transaction, the insider owned 155,934 shares in the company, valued at approximately $8,880,441.30. This trade represents a 0.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,000 shares of company stock valued at $3,182,463 in the last quarter. Company insiders own 8.90% of the company’s stock.

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.