Red Violet (NASDAQ:RDVT) Sets New 1-Year High – Here’s Why

Shares of Red Violet, Inc. (NASDAQ:RDVT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $40.03 and last traded at $39.98, with a volume of 79500 shares. The stock had previously closed at $39.34.

Red Violet Trading Up 1.1 %

The company has a market capitalization of $548.57 million, a price-to-earnings ratio of 110.45 and a beta of 1.49. The company’s 50 day simple moving average is $36.58 and its 200-day simple moving average is $31.71.

Red Violet Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, January 31st.

Insider Activity at Red Violet

In other news, President James Patrick Reilly sold 10,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $37.25, for a total transaction of $372,500.00. Following the transaction, the president now directly owns 272,124 shares of the company’s stock, valued at approximately $10,136,619. The trade was a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Benz sold 22,300 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $37.43, for a total transaction of $834,689.00. Following the sale, the director now directly owns 80,766 shares of the company’s stock, valued at approximately $3,023,071.38. The trade was a 21.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.50% of the stock is owned by insiders.

Institutional Trading of Red Violet

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. bought a new position in Red Violet during the fourth quarter worth $232,000. SG Americas Securities LLC bought a new position in Red Violet during the third quarter worth $199,000. Cubist Systematic Strategies LLC bought a new stake in Red Violet in the second quarter valued at $204,000. White Pine Capital LLC bought a new stake in Red Violet in the fourth quarter valued at $381,000. Finally, PDT Partners LLC acquired a new position in shares of Red Violet during the third quarter valued at $325,000. Institutional investors 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.