Price T Rowe Associates Inc. MD Makes New $1 Million Investment in Red Violet, Inc. (NASDAQ:RDVT)

Price T Rowe Associates Inc. MD purchased a new stake in shares of Red Violet, Inc. (NASDAQ:RDVT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 27,677 shares of the company's stock, valued at approximately $1,002,000. Price T Rowe Associates Inc. MD owned approximately 0.20% of Red Violet at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of Red Violet during the 4th quarter valued at $88,000. Wells Fargo & Company MN grew its position in Red Violet by 58.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,688 shares of the company's stock worth $206,000 after buying an additional 2,089 shares in the last quarter. Franklin Resources Inc. bought a new position in Red Violet in the 4th quarter worth about $207,000. Hsbc Holdings PLC bought a new position in Red Violet in the 4th quarter worth about $215,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Red Violet in the 4th quarter valued at about $232,000. 63.56% of the stock is currently owned by hedge funds and other institutional investors.

Red Violet Trading Up 0.5%

Shares of NASDAQ RDVT traded up $0.26 during midday trading on Thursday, hitting $49.46. 36,863 shares of the company's stock were exchanged, compared to its average volume of 96,141. The business's fifty day moving average price is $38.34 and its two-hundred day moving average price is $37.23. The company has a market cap of $690.28 million, a price-to-earnings ratio of 137.57 and a beta of 1.69. Red Violet, Inc. has a 12-month low of $19.60 and a 12-month high of $49.80.

Insiders Place Their Bets

In related news, insider Jeffrey Alan Dell sold 5,000 shares of the 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 transaction, the insider now owns 172,968 shares of the company's stock, valued at $7,991,121.60. This represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Derek Dubner sold 10,000 shares of Red Violet stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $46.21, for a total value of $462,100.00. Following the sale, the chief executive officer now directly owns 580,379 shares of the company's stock, valued at approximately $26,819,313.59. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $1,082,400 in the last quarter. Corporate insiders own 9.50% of the company's stock.

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.