Red Violet (NASDAQ:RDVT) Hits New 12-Month High – Still a Buy?

Shares of Red Violet, Inc. (NASDAQ:RDVT) reached a new 52-week high during trading on Wednesday . The company traded as high as $48.38 and last traded at $47.68, with a volume of 232612 shares trading hands. The stock had previously closed at $46.08.

Red Violet Trading Up 3.5%

The company has a market cap of $665.42 million, a price-to-earnings ratio of 132.44 and a beta of 1.69. The stock’s fifty day simple moving average is $38.12 and its 200 day simple moving average is $37.15.

Insider Buying and Selling at Red Violet

In other Red Violet news, insider Jeffrey Alan Dell sold 5,000 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $46.20, for a total value of $231,000.00. Following the completion of the sale, the insider now owns 172,968 shares in the company, valued at approximately $7,991,121.60. This represents a 2.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven D. Rubin sold 10,000 shares of the stock in a transaction dated 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 sale, the director now owns 141,138 shares of the company’s stock, valued at approximately $5,494,502.34. The trade was a 6.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,000 shares of company stock worth $1,082,400. Insiders own 9.50% of the company’s stock.

Institutional Trading of Red Violet

A number of hedge funds and other institutional investors have recently made changes to their positions in RDVT. Nisa Investment Advisors LLC increased its holdings in shares of 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 last quarter. Quantbot Technologies LP purchased a new position in shares of Red Violet during the 4th quarter worth approximately $88,000. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 4,133 shares during the period. Wells Fargo & Company MN boosted its position in shares of 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 purchasing an additional 2,089 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of Red Violet during the 4th quarter worth approximately $207,000. 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.