Red Violet (NASDAQ:RDVT) Trading Down 5% - Time to Sell?

Red Violet, Inc. (NASDAQ:RDVT - Get Free Report)'s share price traded down 5% during mid-day trading on Wednesday . The stock traded as low as $45.77 and last traded at $45.59. 30,788 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 76,081 shares. The stock had previously closed at $47.96.

Red Violet Price Performance

The firm's fifty day moving average price is $42.09 and its 200-day moving average price is $39.13. The firm has a market capitalization of $646.58 million, a P/E ratio of 128.69 and a beta of 1.69.

Insider Activity

In related news, insider Jeffrey Alan Dell sold 5,000 shares of the firm's stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Derek Dubner sold 10,000 shares of the firm'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 sale, the chief executive officer now owns 580,379 shares of the company's stock, valued at $26,819,313.59. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $1,082,400 over the last three months. Corporate insiders own 9.50% of the company's stock.

Institutional Trading of Red Violet

A number of large investors have recently added to or reduced their stakes in RDVT. Pembroke Management LTD boosted its holdings in Red Violet by 740.2% during the first quarter. Pembroke Management LTD now owns 252,503 shares of the company's stock worth $9,492,000 after buying an additional 222,451 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Red Violet by 23.7% during the fourth quarter. Wasatch Advisors LP now owns 676,399 shares of the company's stock worth $24,486,000 after buying an additional 129,519 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Red Violet by 2,428.0% during the first quarter. New York State Common Retirement Fund now owns 106,024 shares of the company's stock worth $3,985,000 after buying an additional 101,830 shares in the last quarter. AQR Capital Management LLC bought a new stake in Red Violet during the first quarter worth approximately $3,826,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Red Violet by 98.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 131,988 shares of the company's stock worth $4,778,000 after buying an additional 65,561 shares in the last quarter. 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.