Red Violet (RDVT) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of Red Violet (NASDAQ:RDVT) from a hold rating to a buy rating in a research report report published on Thursday, ValuEngine reports.

Shares of RDVT stock opened at $7.48 on Thursday. Red Violet has a fifty-two week low of $4.35 and a fifty-two week high of $11.15.

Red Violet (NASDAQ:RDVT) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.14). Red Violet had a negative net margin of 42.13% and a negative return on equity of 17.92%. The firm had revenue of $4.71 million during the quarter.

In other news, Director Peter Benz purchased 10,596 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was acquired at an average price of $7.03 per share, for a total transaction of $74,489.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Michael Brauser purchased 9,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was purchased at an average price of $7.19 per share, with a total value of $68,305.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 70,677 shares of company stock valued at $493,269. Company insiders own 4.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in RDVT. Vanguard Group Inc purchased a new position in shares of Red Violet in the third quarter valued at $1,077,000. Vanguard Group Inc. purchased a new position in shares of Red Violet in the third quarter valued at $1,077,000. Dimensional Fund Advisors LP purchased a new position in shares of Red Violet in the third quarter valued at $350,000. Finally, BlackRock Inc. purchased a new position in shares of Red Violet in the third quarter valued at $162,000. Institutional investors and hedge funds own 11.13% of the company’s stock.

Red Violet Company Profile

Red Violet, Inc, a software and services company, specializes in big data analysis providing cloud-based mission-critical information solutions to enterprises in various industries in the United States. Its proprietary platform includes CORE, a cloud-based technology platform, which serves various industries within risk management.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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