Red Violet (NASDAQ:RDVT) Shares Down 5% - What's Next?

Shares of Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) fell 5% during 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 Stock Performance

The firm's fifty day moving average is $42.22 and its 200 day moving average is $39.23. The company has a market capitalization of $636.95 million, a P/E ratio of 126.78 and a beta of 1.78.

Insider Activity

In other Red Violet news, Director Steven D. Rubin sold 10,000 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $38.93, for a total transaction of $389,300.00. Following the completion of the transaction, the director now owns 141,138 shares in the company, valued at approximately $5,494,502.34. This represents a 6.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Alan Dell sold 5,000 shares of the business'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 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. Over the last ninety days, insiders have sold 25,000 shares of company stock worth $1,082,400. Corporate insiders own 8.90% of the company's stock.

Institutional Trading of Red Violet

Several institutional investors have recently added to or reduced their stakes in the stock. Pembroke Management LTD grew its position in shares of 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 acquiring an additional 222,451 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of Red Violet by 23.7% in the fourth quarter. Wasatch Advisors LP now owns 676,399 shares of the company's stock worth $24,486,000 after purchasing an additional 129,519 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Red Violet by 2,428.0% in the first quarter. New York State Common Retirement Fund now owns 106,024 shares of the company's stock worth $3,985,000 after purchasing an additional 101,830 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Red Violet in the first quarter worth approximately $3,826,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Red Violet by 98.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 131,988 shares of the company's stock worth $4,778,000 after purchasing an additional 65,561 shares in the last quarter. 63.56% of the stock is 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.