Red Violet (NASDAQ:RDVT) Trading 6.4% Higher - Here's Why

Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) was up 6.4% on Friday . The company traded as high as $49.96 and last traded at $51.02. Approximately 40,349 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 79,933 shares. The stock had previously closed at $47.96.

Red Violet Price Performance

The stock's 50 day simple moving average is $45.22 and its two-hundred day simple moving average is $40.17. The company has a market capitalization of $709.35 million, a P/E ratio of 82.90 and a beta of 1.78.

Insider Transactions at Red Violet

In other Red Violet news, CEO Derek Dubner sold 10,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 580,379 shares of the company's stock, valued at approximately $26,819,313.59. The trade was a 1.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Alan Dell sold 5,000 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $46.20, for a total transaction of $231,000.00. Following the completion of the transaction, the insider now directly owns 172,968 shares in the company, valued at $7,991,121.60. This trade represents a 2.81% decrease in their position. The disclosure for this sale can be found here. 8.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RDVT. Bank of New York Mellon Corp increased its holdings in Red Violet by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 34,105 shares of the company's stock valued at $1,235,000 after purchasing an additional 1,068 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Red Violet by 23.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 69,464 shares of the company's stock worth $2,515,000 after purchasing an additional 13,414 shares in the last quarter. Bailard Inc. bought a new stake in shares of Red Violet during the 4th quarter worth approximately $243,000. Charles Schwab Investment Management Inc. increased its holdings in Red Violet by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,083 shares of the company's stock worth $1,161,000 after buying an additional 1,181 shares during the last quarter. Finally, Bard Associates Inc. acquired a new stake in Red Violet in the 4th quarter valued at about $299,000. 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.

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