Red Violet (RDVT) Upgraded to “Buy” by ValuEngine

Red Violet (NASDAQ:RDVT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, ValuEngine reports.

RDVT traded up $0.04 during mid-day trading on Thursday, reaching $7.34. 25,800 shares of the company traded hands, compared to its average volume of 21,546. Red Violet has a 52-week low of $4.35 and a 52-week high of $11.15.

Red Violet (NASDAQ:RDVT) last announced its 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). The company had revenue of $4.71 million for the quarter. Red Violet had a negative net margin of 42.13% and a negative return on equity of 17.92%.

In related news, major shareholder Michael Brauser acquired 9,500 shares of Red Violet stock in a transaction dated Thursday, March 7th. The stock was purchased at an average cost of $7.19 per share, for a total transaction of $68,305.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter Benz acquired 10,596 shares of Red Violet stock in a transaction dated Tuesday, April 2nd. The stock was bought at an average price of $7.03 per share, with a total value of $74,489.88. The disclosure for this purchase can be found here. Insiders bought a total of 70,677 shares of company stock valued at $493,269 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc purchased a new stake in shares of Red Violet in the 3rd quarter worth $1,077,000. Vanguard Group Inc. purchased a new stake in shares of Red Violet in the 3rd quarter worth $1,077,000. Dimensional Fund Advisors LP purchased a new stake in shares of Red Violet in the 3rd quarter worth $350,000. Finally, BlackRock Inc. purchased a new stake in shares of Red Violet in the 3rd quarter worth $162,000. Hedge funds and other institutional investors 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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