Red Violet (NASDAQ:RDVT) Trading Down 1.1%

Red Violet, Inc. (NASDAQ:RDVT)’s share price fell 1.1% during trading on Thursday . The company traded as low as $17.62 and last traded at $17.87. 33,877 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 40,298 shares. The stock had previously closed at $18.07.

Analyst Ratings Changes

Separately, B. Riley began coverage on Red Violet in a research note on Tuesday, March 26th. They issued a “buy” rating and a $25.00 price objective on the stock.

Red Violet Price Performance

The stock has a market capitalization of $249.47 million, a P/E ratio of 19.01 and a beta of 1.14. The firm has a 50 day moving average of $18.48 and a 200-day moving average of $19.18.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.06) earnings per share (EPS) for the quarter. Red Violet had a net margin of 22.47% and a return on equity of 16.92%. The firm had revenue of $15.06 million for the quarter. As a group, equities analysts expect that Red Violet, Inc. will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Red Violet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP grew its stake in shares of Red Violet by 58.6% in the 1st quarter. Wasatch Advisors LP now owns 663,828 shares of the company’s stock valued at $12,978,000 after purchasing an additional 245,224 shares during the period. Nantahala Capital Management LLC grew its stake in shares of Red Violet by 23.2% in the 1st quarter. Nantahala Capital Management LLC now owns 1,261,251 shares of the company’s stock valued at $35,946,000 after purchasing an additional 237,792 shares during the period. Ashford Capital Management Inc. grew its stake in shares of Red Violet by 25.9% in the 4th quarter. Ashford Capital Management Inc. now owns 974,502 shares of the company’s stock valued at $22,433,000 after purchasing an additional 200,493 shares during the period. BlackRock Inc. grew its stake in shares of Red Violet by 15.2% in the 3rd quarter. BlackRock Inc. now owns 595,150 shares of the company’s stock valued at $10,308,000 after purchasing an additional 78,308 shares during the period. Finally, State Street Corp grew its stake in shares of Red Violet by 215.2% in the 2nd quarter. State Street Corp now owns 103,403 shares of the company’s stock valued at $1,969,000 after purchasing an additional 70,602 shares during the period. 63.56% of the stock is currently owned by institutional investors.

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.