Red Violet (NASDAQ:RDVT) Trading Down 1.1%

Red Violet, Inc. (NASDAQ:RDVT) shares were down 1.1% on Thursday . The stock traded as low as $17.62 and last traded at $17.87. Approximately 33,877 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 40,298 shares. The stock had previously closed at $18.07.

Analysts Set New Price Targets

Separately, B. Riley started coverage on Red Violet in a report on Tuesday, March 26th. They issued a “buy” rating and a $25.00 price target for the company.

Red Violet Stock Performance

The business has a fifty day moving average price of $18.47 and a 200 day moving average price of $19.17. The firm has a market capitalization of $248.98 million, a price-to-earnings ratio of 18.97 and a beta of 1.14.

Red Violet (NASDAQ:RDVT) last released its quarterly earnings data 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 business had revenue of $15.06 million during the quarter. On average, analysts expect that Red Violet, Inc. will post 0.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RDVT. Citigroup Inc. lifted its position in Red Violet by 28.4% during the 1st quarter. Citigroup Inc. now owns 16,461 shares of the company’s stock worth $469,000 after acquiring an additional 3,644 shares during the last quarter. Bank of Montreal Can acquired a new position in Red Violet during the 1st quarter worth $212,000. BlackRock Inc. lifted its position in Red Violet by 0.6% during the 1st quarter. BlackRock Inc. now owns 160,114 shares of the company’s stock worth $4,563,000 after acquiring an additional 946 shares during the last quarter. Vanguard Group Inc. lifted its position in Red Violet by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 384,370 shares of the company’s stock worth $10,954,000 after acquiring an additional 1,360 shares during the last quarter. Finally, Nantahala Capital Management LLC lifted its position in Red Violet by 23.2% during the 1st quarter. Nantahala Capital Management LLC now owns 1,261,251 shares of the company’s stock worth $35,946,000 after acquiring an additional 237,792 shares during the last quarter. Institutional investors and hedge funds own 63.56% of the company’s stock.

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.