Red Violet (NASDAQ:RDVT) Hits New 1-Year High – Time to Buy?

Red Violet, Inc. (NASDAQ:RDVT) reached a new 52-week high on Thursday . The stock traded as high as $36.70 and last traded at $36.32, with a volume of 77287 shares trading hands. The stock had previously closed at $35.01.

Red Violet Stock Up 4.3 %

The business has a 50-day moving average price of $29.88 and a 200-day moving average price of $26.30. The firm has a market capitalization of $503.75 million, a P/E ratio of 97.25 and a beta of 1.46.

Institutional Investors Weigh In On Red Violet

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ancora Advisors LLC acquired a new position in Red Violet in the first quarter valued at about $899,000. Marshall Wace LLP boosted its position in shares of Red Violet by 323.4% during the second quarter. Marshall Wace LLP now owns 56,561 shares of the company’s stock worth $1,437,000 after purchasing an additional 43,203 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Red Violet by 158.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 56,050 shares of the company’s stock valued at $1,595,000 after buying an additional 34,348 shares in the last quarter. Legato Capital Management LLC acquired a new stake in shares of Red Violet during the second quarter worth $595,000. Finally, Walleye Capital LLC acquired a new position in shares of Red Violet during the third quarter worth about $532,000. 63.56% of the stock is owned by institutional investors and hedge funds.

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.