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

Shares of Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) reached a new 52-week high during mid-day trading on Saturday . The company traded as high as $51.40 and last traded at $50.96, with a volume of 270449 shares trading hands. The stock had previously closed at $47.96.

Red Violet Price Performance

The stock has a market capitalization of $711.40 million, a P/E ratio of 83.54 and a beta of 1.78. The firm's 50 day moving average price is $45.50 and its 200 day moving average price is $40.26.

Insider Activity

In related news, CEO Derek Dubner sold 10,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $46.21, for a total transaction of $462,100.00. Following the transaction, the chief executive officer now owns 580,379 shares in the company, valued at $26,819,313.59. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a 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 dated 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 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. Insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Red Violet

Several hedge funds have recently made changes to their positions in RDVT. Nisa Investment Advisors LLC raised its holdings in Red Violet by 3,125.0% in the first quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company's stock worth $39,000 after purchasing an additional 1,000 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Red Violet in the 4th quarter worth about $88,000. AlphaQuest LLC bought a new position in shares of Red Violet in the 1st quarter worth about $129,000. GAMMA Investing LLC lifted its position in Red Violet by 206,650.0% during 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 position in Red Violet during the 1st quarter valued at about $206,000. 63.56% of the stock is currently owned by institutional investors.

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.

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