Aviva PLC Invests $480,000 in Red Violet, Inc. $RDVT

Aviva PLC bought a new stake in Red Violet, Inc. (NASDAQ:RDVT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,766 shares of the company’s stock, valued at approximately $480,000. Aviva PLC owned approximately 0.07% of Red Violet at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted its stake in Red Violet by 11.6% in the second quarter. Los Angeles Capital Management LLC now owns 58,073 shares of the company’s stock valued at $2,857,000 after acquiring an additional 6,036 shares during the last quarter. AlphaQuest LLC lifted its stake in Red Violet by 23.0% in the 2nd quarter. AlphaQuest LLC now owns 4,212 shares of the company’s stock valued at $207,000 after purchasing an additional 789 shares during the last quarter. Evernest Financial Advisors LLC acquired a new stake in Red Violet in the 2nd quarter valued at about $344,000. Precision Wealth Strategies LLC bought a new position in Red Violet during the second quarter worth about $916,000. Finally, USA Financial Formulas acquired a new position in Red Violet during the second quarter worth approximately $121,000. 63.56% of the stock is owned by institutional investors.

Red Violet Stock Down 0.8%

Shares of Red Violet stock opened at $57.51 on Friday. The stock has a market capitalization of $803.41 million, a price-to-earnings ratio of 74.69 and a beta of 1.76. Red Violet, Inc. has a twelve month low of $32.23 and a twelve month high of $64.14. The company has a 50-day simple moving average of $52.56 and a two-hundred day simple moving average of $48.52.

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

Insider Buying and Selling

In related news, President James Patrick Reilly sold 7,006 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $58.11, for a total value of $407,118.66. Following the transaction, the president owned 239,072 shares in the company, valued at approximately $13,892,473.92. This trade represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel Maclachlan sold 7,006 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 366,157 shares of the company’s stock, valued at approximately $21,277,383.27. This trade represents a 1.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 55,000 shares of company stock valued at $3,182,463 over the last 90 days. 8.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

RDVT has been the subject of a number of recent analyst reports. Lake Street Capital reaffirmed a “buy” rating and issued a $62.00 price objective 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 report on Sunday, November 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Red Violet in a research report on Wednesday, October 8th. Finally, B. Riley increased their price objective on shares of Red Violet from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Red Violet presently has an average rating of “Moderate Buy” and an average target price of $62.00.

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.