Red Violet (NASDAQ:RDVT) Hits New 52-Week High - Here's Why

Red Violet, Inc. (NASDAQ:RDVT - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $48.38 and last traded at $47.68, with a volume of 232612 shares traded. The stock had previously closed at $46.08.

Red Violet Stock Up 0.0%

The stock's 50 day moving average price is $39.15 and its 200-day moving average price is $37.58. The stock has a market capitalization of $686.64 million, a P/E ratio of 136.67 and a beta of 1.69.

Insider Buying and Selling at Red Violet

In related news, insider Jeffrey Alan Dell sold 5,000 shares of the firm'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 transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 of the company's stock, valued at approximately $5,494,502.34. This trade represents a 6.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock worth $1,082,400 over the last three months. Corporate insiders own 9.50% of the company's stock.

Institutional Trading of Red Violet

A number of institutional investors and hedge funds have recently modified their holdings of RDVT. Nisa Investment Advisors LLC raised its stake in shares of Red Violet by 3,125.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company's stock valued at $39,000 after acquiring an additional 1,000 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Red Violet in the 4th quarter valued at approximately $88,000. AlphaQuest LLC purchased a new stake in shares of Red Violet in the 1st quarter valued at approximately $129,000. GAMMA Investing LLC raised its stake in shares of Red Violet by 206,650.0% in the 1st quarter. GAMMA Investing LLC now owns 4,135 shares of the company's stock valued at $155,000 after acquiring an additional 4,133 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in shares of Red Violet in the 1st quarter valued at approximately $206,000. Hedge funds and other 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.