Acadian Asset Management LLC Grows Stock Holdings in Red Violet, Inc. $RDVT

Acadian Asset Management LLC grew its holdings in shares of Red Violet, Inc. (NASDAQ:RDVT) by 84.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,989 shares of the company’s stock after purchasing an additional 32,999 shares during the quarter. Acadian Asset Management LLC owned approximately 0.52% of Red Violet worth $3,541,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Red Violet by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,586 shares of the company’s stock valued at $248,000 after purchasing an additional 312 shares during the last quarter. Rhumbline Advisers grew its holdings in Red Violet by 2.5% in the 1st quarter. Rhumbline Advisers now owns 16,304 shares of the company’s stock valued at $613,000 after buying an additional 393 shares during the period. Fifth Third Bancorp acquired a new position in shares of Red Violet during the 2nd quarter valued at about $25,000. Bard Associates Inc. lifted its holdings in shares of Red Violet by 6.7% during the 1st quarter. Bard Associates Inc. now owns 8,822 shares of the company’s stock worth $332,000 after acquiring an additional 554 shares during the period. Finally, AlphaQuest LLC lifted its holdings in shares of Red Violet by 23.0% during the 2nd quarter. AlphaQuest LLC now owns 4,212 shares of the company’s stock worth $207,000 after acquiring an additional 789 shares during the period. Institutional investors and hedge funds own 63.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RDVT shares. Weiss Ratings raised shares of Red Violet from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. B. Riley boosted their price objective on shares of Red Violet from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wall Street Zen raised Red Violet from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 9th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $62.00 target price on shares of Red Violet in a report on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $62.00.

Insider Transactions at Red Violet

In other news, President James Patrick Reilly sold 7,006 shares of the firm’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 transaction, the president directly owned 239,072 shares in the company, valued at approximately $13,892,473.92. This trade represents a 2.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel Maclachlan sold 7,006 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $58.11, for a total transaction of $407,118.66. Following the completion of the transaction, the chief financial officer directly owned 366,157 shares in the company, valued at $21,277,383.27. This represents a 1.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 55,000 shares of company stock worth $3,182,463. 8.90% of the stock is currently owned by corporate insiders.

Red Violet Stock Up 1.6%

Shares of NASDAQ RDVT opened at $58.43 on Friday. Red Violet, Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $64.14. The firm has a market cap of $816.27 million, a PE ratio of 75.88 and a beta of 1.76. The business has a 50 day moving average price of $52.71 and a two-hundred day moving average price of $48.66.

Red Violet (NASDAQ:RDVT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. The firm 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, analysts anticipate that Red Violet, Inc. will post 0.51 earnings per share for the current year.

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.