Cove Street Capital LLC Reduces Stock Position in Red Violet, Inc. (NASDAQ:RDVT)

Cove Street Capital LLC reduced its holdings in shares of Red Violet, Inc. (NASDAQ:RDVT) by 79.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,340 shares of the company’s stock after selling 66,071 shares during the quarter. Cove Street Capital LLC owned 0.13% of Red Violet worth $629,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its holdings in Red Violet by 98.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 131,988 shares of the company’s stock valued at $4,778,000 after acquiring an additional 65,561 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Red Violet by 89.7% in the 4th quarter. JPMorgan Chase & Co. now owns 59,269 shares of the company’s stock worth $2,146,000 after purchasing an additional 28,026 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Red Violet in the 4th quarter valued at about $891,000. Hillsdale Investment Management Inc. lifted its position in shares of Red Violet by 26.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 102,600 shares of the company’s stock worth $3,714,000 after purchasing an additional 21,400 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in Red Violet in the fourth quarter worth about $384,000. 63.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Steven D. Rubin sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $38.93, for a total transaction of $389,300.00. Following the transaction, the director now directly owns 141,138 shares in the company, valued at $5,494,502.34. This trade represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 9.50% of the company’s stock.

Red Violet Stock Down 2.3 %

Shares of NASDAQ RDVT opened at $37.33 on Friday. The stock’s 50 day moving average price is $38.33 and its two-hundred day moving average price is $34.85. Red Violet, Inc. has a 52-week low of $16.56 and a 52-week high of $43.44. The stock has a market capitalization of $520.34 million, a P/E ratio of 103.69 and a beta of 1.63.

About Red Violet

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.