Red Violet (NASDAQ:RDVT) Shares Down 5.3% After Insider Selling

Red Violet, Inc. (NASDAQ:RDVT)’s stock price fell 5.3% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $36.61 and last traded at $36.72. 49,557 shares were traded during mid-day trading, an increase of 0% from the average session volume of 49,390 shares. The stock had previously closed at $38.78.

Specifically, President James Patrick Reilly sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $37.25, for a total value of $372,500.00. Following the completion of the sale, the president now directly owns 272,124 shares in the company, valued at approximately $10,136,619. This trade represents a 3.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Red Violet Trading Down 4.6 %

The company’s 50 day moving average is $30.41 and its 200-day moving average is $26.76. The firm has a market capitalization of $510.09 million, a price-to-earnings ratio of 107.72 and a beta of 1.46.

Institutional Investors Weigh In On Red Violet

Several hedge funds have recently bought and sold shares of RDVT. Ancora Advisors LLC bought a new position in Red Violet in the first quarter valued at approximately $899,000. Marshall Wace LLP increased its stake in Red Violet by 323.4% in the second quarter. Marshall Wace LLP now owns 56,561 shares of the company’s stock valued at $1,437,000 after acquiring an additional 43,203 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Red Violet by 158.3% in the third quarter. Los Angeles Capital Management LLC now owns 56,050 shares of the company’s stock valued at $1,595,000 after acquiring an additional 34,348 shares during the last quarter. Legato Capital Management LLC bought a new position in Red Violet in the second quarter valued at approximately $595,000. Finally, Walleye Capital LLC bought a new position in Red Violet in the third quarter valued at approximately $532,000. 63.56% of the stock is currently 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.