Red Violet (NASDAQ:RDVT) Reaches New 1-Year High - Still a Buy?

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

Red Violet Trading Down 0.1%

The company has a market capitalization of $685.66 million, a price-to-earnings ratio of 136.47 and a beta of 1.69. The firm's 50-day moving average price is $39.15 and its 200 day moving average price is $37.68.

Insider Activity

In other Red Violet news, insider Jeffrey Alan Dell sold 5,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was 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 directly owns 172,968 shares of the company's stock, valued at approximately $7,991,121.60. The trade was a 2.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven D. Rubin sold 10,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were 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. The trade was a 6.62% 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 worth $1,082,400. Insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On Red Violet

Several institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP grew 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 in the last quarter. Vanguard Group Inc. raised its position in Red Violet by 1.2% during the first quarter. Vanguard Group Inc. now owns 615,948 shares of the company's stock valued at $23,153,000 after purchasing an additional 7,396 shares in the last quarter. Pembroke Management LTD lifted its position in 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 buying an additional 222,451 shares during the last quarter. Russell Investments Group Ltd. boosted 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 valued at $5,728,000 after purchasing an additional 52,130 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. grew its stake in shares of Red Violet by 27.7% during the first 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 last quarter. Institutional investors own 63.56% 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.