Red Violet (NASDAQ:RDVT) Trading Up 5.6% - Still a Buy?

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

Red Violet Stock Performance

The company has a fifty day simple moving average of $43.18 and a two-hundred day simple moving average of $39.53. The company has a market capitalization of $644.63 million, a price-to-earnings ratio of 128.31 and a beta of 1.78.

Insider Buying and Selling at Red Violet

In other Red Violet news, Director Steven D. Rubin sold 10,000 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $38.93, for a total value of $389,300.00. Following the completion of the transaction, the director now directly owns 141,138 shares in the company, valued at approximately $5,494,502.34. The trade was a 6.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey Alan Dell sold 5,000 shares of the company's stock in a transaction 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 now 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,000 shares of company stock worth $1,082,400. Insiders own 8.90% of the company's stock.

Institutional Trading of Red Violet

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in shares of Red Violet by 2.5% during the 1st quarter. Rhumbline Advisers now owns 16,304 shares of the company's stock worth $613,000 after buying an additional 393 shares during the last quarter. Strs Ohio acquired a new stake in shares of Red Violet during the 1st quarter worth $323,000. Ellsworth Advisors LLC increased its holdings in shares of Red Violet by 7.5% during the 1st quarter. Ellsworth Advisors LLC now owns 18,381 shares of the company's stock worth $691,000 after buying an additional 1,285 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Red Violet by 28.4% during the 1st quarter. Acadian Asset Management LLC now owns 38,990 shares of the company's stock worth $1,464,000 after buying an additional 8,624 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. increased its holdings in shares of Red Violet by 27.7% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 139,421 shares of the company's stock worth $5,241,000 after buying an additional 30,212 shares during the last quarter. 63.56% of the stock is currently owned by institutional investors and hedge funds.

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.