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

Wasatch Advisors LP lifted its stake in shares of Red Violet, Inc. (NASDAQ:RDVT) by 58.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 663,828 shares of the company’s stock after acquiring an additional 245,224 shares during the period. Wasatch Advisors LP’s holdings in Red Violet were worth $12,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new stake in Red Violet during the fourth quarter valued at about $375,000. Kennedy Capital Management LLC raised its holdings in shares of Red Violet by 2.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 22,921 shares of the company’s stock valued at $459,000 after buying an additional 538 shares in the last quarter. Ashford Capital Management Inc. lifted its position in Red Violet by 1.2% in the 3rd quarter. Ashford Capital Management Inc. now owns 1,230,600 shares of the company’s stock worth $24,624,000 after buying an additional 15,134 shares during the last quarter. Finally, Trigran Investments Inc. boosted its stake 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 buying an additional 9,761 shares in the last quarter. 63.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, B. Riley assumed coverage on shares of Red Violet in a research note on Tuesday, March 26th. They set a “buy” rating and a $25.00 price target on the stock.

Red Violet Stock Up 0.2 %

Red Violet stock opened at $25.46 on Wednesday. The firm has a fifty day simple moving average of $20.87 and a two-hundred day simple moving average of $19.44. Red Violet, Inc. has a twelve month low of $16.56 and a twelve month high of $25.74. The company has a market capitalization of $349.57 million, a PE ratio of 24.96 and a beta of 1.49.

Red Violet (NASDAQ:RDVT) last released its 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. Red Violet had a return on equity of 17.94% and a net margin of 23.14%. The company had revenue of $17.51 million during the quarter, compared to analyst estimates of $16.58 million. As a group, equities analysts expect that Red Violet, Inc. will post 0.41 earnings per share for the current fiscal 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.