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

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

Red Violet Trading Up 3.5%

The firm has a 50-day moving average of $38.12 and a 200-day moving average of $37.15. The stock has a market capitalization of $665.42 million, a price-to-earnings ratio of 132.44 and a beta of 1.69.

Insider Activity at Red Violet

In related news, insider Jeffrey Alan Dell sold 5,000 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 172,968 shares in the company, valued at $7,991,121.60. The trade was a 2.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Derek Dubner sold 10,000 shares of the company’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 transaction, the chief executive officer now owns 580,379 shares of the company’s stock, valued at approximately $26,819,313.59. This trade represents a 1.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $1,082,400 in the last ninety days. Company insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Red Violet

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Red Violet by 114.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 31,243 shares of the company’s stock worth $889,000 after acquiring an additional 16,661 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in Red Violet by 202.7% in the 4th quarter. Salem Investment Counselors Inc. now owns 25,312 shares of the company’s stock valued at $916,000 after buying an additional 16,951 shares in the last quarter. Barclays PLC lifted its stake in Red Violet by 240.7% in the 3rd quarter. Barclays PLC now owns 18,502 shares of the company’s stock valued at $526,000 after buying an additional 13,072 shares in the last quarter. SG Americas Securities LLC lifted its stake in Red Violet by 14.3% in the 4th quarter. SG Americas Securities LLC now owns 7,990 shares of the company’s stock valued at $289,000 after buying an additional 998 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Red Violet in the 4th quarter valued at about $232,000. 63.56% of the stock is owned by hedge funds and other institutional investors.

Red Violet Company Profile

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.