Red Violet (NASDAQ:RDVT) Hits New 12-Month High – Still a Buy?

Red Violet, Inc. (NASDAQ:RDVT) reached a new 52-week high during trading on Wednesday . The stock traded as high as $48.38 and last traded at $47.68, with a volume of 232612 shares trading hands. The stock had previously closed at $46.08.

Red Violet Stock Performance

The company has a 50 day moving average of $38.90 and a 200 day moving average of $37.45. The stock has a market capitalization of $686.50 million, a price-to-earnings ratio of 136.64 and a beta of 1.69.

Insider Activity at Red Violet

In other Red Violet 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 value of $389,300.00. Following the completion of the sale, the director now directly owns 141,138 shares of the company’s stock, valued at $5,494,502.34. This trade represents a 6.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Alan Dell sold 5,000 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $46.20, for a total value of $231,000.00. Following the completion of the sale, the insider now directly owns 172,968 shares of the company’s stock, valued at $7,991,121.60. This trade represents a 2.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,000 shares of company stock valued at $1,082,400. 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 modified their holdings of the stock. Wasatch Advisors LP increased its stake in shares of Red Violet by 23.7% in the 4th quarter. Wasatch Advisors LP now owns 676,399 shares of the company’s stock worth $24,486,000 after acquiring an additional 129,519 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Red Violet by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 615,948 shares of the company’s stock worth $23,153,000 after acquiring an additional 7,396 shares during the last quarter. Pembroke Management LTD increased its stake in shares of Red Violet by 740.2% in the 1st quarter. Pembroke Management LTD now owns 252,503 shares of the company’s stock worth $9,492,000 after acquiring an additional 222,451 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Red Violet by 52.0% in the 1st quarter. Russell Investments Group Ltd. now owns 152,374 shares of the company’s stock worth $5,728,000 after acquiring an additional 52,130 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Red Violet by 98.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 131,988 shares of the company’s stock worth $4,778,000 after acquiring an additional 65,561 shares during the last quarter. 63.56% of the stock is owned by institutional investors and hedge funds.

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.