Red Violet (NASDAQ:RDVT) Trading 5.6% Higher - What's Next?

Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) shares shot up 5.6% during mid-day trading on Wednesday . The stock traded as high as $47.58 and last traded at $47.50. 117,434 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 106,011 shares. The stock had previously closed at $45.00.

Red Violet Trading Down 0.8%

The company has a 50 day moving average price of $42.73 and a 200-day moving average price of $39.39. The company has a market cap of $655.23 million, a P/E ratio of 130.42 and a beta of 1.78.

Insider Activity at Red Violet

In related news, 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 sale, the director now owns 141,138 shares of the company's stock, valued at $5,494,502.34. This trade represents a 6.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $231,000.00. Following the sale, the insider now directly owns 172,968 shares in the company, valued at approximately $7,991,121.60. This trade represents a 2.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $1,082,400 in the last 90 days. 8.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Red Violet

Several hedge funds have recently modified their holdings of RDVT. Nisa Investment Advisors LLC lifted its holdings in Red Violet by 3,125.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company's stock worth $39,000 after buying an additional 1,000 shares during the period. Quantbot Technologies LP acquired a new position in Red Violet during the 4th quarter worth about $88,000. AlphaQuest LLC acquired a new position in Red Violet during the 1st quarter worth about $129,000. GAMMA Investing LLC lifted its holdings in Red Violet by 206,650.0% during the 1st quarter. GAMMA Investing LLC now owns 4,135 shares of the company's stock worth $155,000 after buying an additional 4,133 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Red Violet by 58.0% during the 4th 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 during the period. Institutional investors and hedge funds 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.