Red Violet (NASDAQ:RDVT) Reaches New 12-Month High – Time to Buy?

Red Violet, Inc. (NASDAQ:RDVT)’s share price hit a new 52-week high during trading on Saturday . The company traded as high as $51.40 and last traded at $50.96, with a volume of 270449 shares changing hands. The stock had previously closed at $47.96.

Red Violet Stock Performance

The firm’s 50-day moving average is $45.50 and its 200 day moving average is $40.28. The stock has a market cap of $711.40 million, a PE ratio of 83.54 and a beta of 1.77.

Insider Activity at Red Violet

In related news, CEO Derek Dubner sold 10,000 shares of the company’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $46.21, for a total value of $462,100.00. Following the completion of the sale, the chief executive officer now owns 580,379 shares in the company, valued at $26,819,313.59. This represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Alan Dell sold 5,000 shares of the company’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $46.20, for a total transaction of $231,000.00. Following the completion of the sale, the insider now owns 172,968 shares of the company’s stock, valued at approximately $7,991,121.60. This trade represents a 2.81% decrease in their position. The disclosure for this sale can be found here. 8.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Red Violet

Several institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP increased its stake in Red Violet by 23.7% in the 4th quarter. Wasatch Advisors LP now owns 676,399 shares of the company’s stock valued at $24,486,000 after buying an additional 129,519 shares during the period. Vanguard Group Inc. increased its stake in Red Violet by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 615,948 shares of the company’s stock valued at $23,153,000 after buying an additional 7,396 shares during the period. Pembroke Management LTD increased its stake in Red Violet by 740.2% in the 1st quarter. Pembroke Management LTD now owns 252,503 shares of the company’s stock valued at $9,492,000 after buying an additional 222,451 shares during the period. Russell Investments Group Ltd. increased its stake in Red Violet by 52.0% in the 1st quarter. Russell Investments Group Ltd. now owns 152,374 shares of the company’s stock valued at $5,728,000 after buying an additional 52,130 shares during the period. Finally, Uniplan Investment Counsel Inc. increased its stake in Red Violet by 27.7% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 139,421 shares of the company’s stock valued at $5,241,000 after buying an additional 30,212 shares during the period. 63.56% of the stock is owned by institutional investors and hedge funds.

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.