Wasatch Advisors LP Buys 245,224 Shares of Red Violet, Inc. (NASDAQ:RDVT)

Wasatch Advisors LP raised its stake in shares of Red Violet, Inc. (NASDAQ:RDVT) by 58.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 663,828 shares of the company’s stock after purchasing an additional 245,224 shares during the quarter. Wasatch Advisors LP owned 4.76% of Red Violet worth $12,978,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in RDVT. Quadrature Capital Ltd bought a new position in Red Violet during the fourth quarter valued at about $375,000. Kennedy Capital Management LLC increased its position in shares of Red Violet by 2.4% during the third quarter. Kennedy Capital Management LLC now owns 22,921 shares of the company’s stock valued at $459,000 after purchasing an additional 538 shares during the period. Ashford Capital Management Inc. raised its stake in shares of Red Violet by 1.2% in the third quarter. Ashford Capital Management Inc. now owns 1,230,600 shares of the company’s stock valued at $24,624,000 after purchasing an additional 15,134 shares in the last quarter. Finally, Trigran Investments Inc. lifted its position in Red Violet by 0.5% in the fourth quarter. Trigran Investments Inc. now owns 2,113,025 shares of the company’s stock worth $42,197,000 after purchasing an additional 9,761 shares during the period. Institutional investors and hedge funds own 63.56% of the company’s stock.

Red Violet Trading Up 0.2 %

NASDAQ RDVT opened at $25.46 on Wednesday. The stock’s 50 day moving average is $20.87 and its two-hundred day moving average is $19.44. The company has a market capitalization of $349.57 million, a price-to-earnings ratio of 24.96 and a beta of 1.49. Red Violet, Inc. has a 1-year low of $16.56 and a 1-year high of $25.74.

Red Violet (NASDAQ:RDVT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.08. The business had revenue of $17.51 million during the quarter, compared to analyst estimates of $16.58 million. Red Violet had a net margin of 23.14% and a return on equity of 17.94%. On average, analysts predict that Red Violet, Inc. will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

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

About Red Violet

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.