Bank of New York Mellon Corp Grows Stake in Red Violet, Inc. (NASDAQ:RDVT)

Bank of New York Mellon Corp increased its stake in Red Violet, Inc. (NASDAQ:RDVT) by 11.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,960 shares of the company’s stock after buying an additional 4,264 shares during the quarter. Bank of New York Mellon Corp owned about 0.30% of Red Violet worth $1,040,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of RDVT. Lazard Asset Management LLC raised its holdings in shares of Red Violet by 352.9% during the first quarter. Lazard Asset Management LLC now owns 3,614 shares of the company’s stock worth $70,000 after purchasing an additional 2,816 shares during the period. Quadrature Capital Ltd bought a new position in shares of Red Violet during the fourth quarter valued at approximately $375,000. Kennedy Capital Management LLC raised its position in shares of Red Violet by 3.7% during the 1st quarter. Kennedy Capital Management LLC now owns 24,190 shares of the company’s stock worth $473,000 after purchasing an additional 862 shares during the period. Ancora Advisors LLC bought a new stake in shares of Red Violet in the 1st quarter worth approximately $899,000. Finally, Capstone Investment Advisors LLC acquired a new position in Red Violet during the 1st quarter valued at approximately $978,000. Institutional investors and hedge funds own 63.56% of the company’s stock.

Red Violet Price Performance

Shares of RDVT opened at $29.24 on Friday. The company has a market cap of $401.47 million, a P/E ratio of 28.67 and a beta of 1.48. Red Violet, Inc. has a 12 month low of $16.56 and a 12 month high of $30.47. The stock has a fifty day moving average price of $27.26 and a 200 day moving average price of $22.76.

Red Violet (NASDAQ:RDVT) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09. The business had revenue of $19.06 million for the quarter, compared to analysts’ expectations of $17.53 million. Red Violet had a net margin of 23.49% and a return on equity of 18.99%. As a group, research analysts anticipate that Red Violet, Inc. will post 0.5 earnings per share for the current year.

Red Violet 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.