Red Violet (NASDAQ:RDVT) Hits New 52-Week High - Time to Buy?

Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) hit a new 52-week high 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 has a market capitalization of $684.00 million, a P/E ratio of 80.24 and a beta of 1.77. The stock has a fifty day moving average price of $45.76 and a two-hundred day moving average price of $40.36.

Insider Transactions at Red Violet

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDVT. Rhumbline Advisers lifted its stake in Red Violet by 2.5% in the first quarter. Rhumbline Advisers now owns 16,304 shares of the company's stock valued at $613,000 after buying an additional 393 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 worth $155,000 after acquiring an additional 4,133 shares during the period. Deutsche Bank AG lifted its position in Red Violet by 80.7% in the 4th quarter. Deutsche Bank AG now owns 11,361 shares of the company's stock valued at $411,000 after purchasing an additional 5,073 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Red Violet by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,274 shares of the company's stock valued at $227,000 after purchasing an additional 259 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Red Violet by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,083 shares of the company's stock worth $1,161,000 after purchasing an additional 1,181 shares during the last quarter. Institutional investors and hedge funds 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.