Red Violet (NASDAQ:RDVT) Sets New 52-Week High – Should You Buy?

Red Violet, Inc. (NASDAQ:RDVT) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $39.88 and last traded at $39.71, with a volume of 15069 shares changing hands. The stock had previously closed at $39.45.

Red Violet Price Performance

The firm has a market cap of $522.99 million, a price-to-earnings ratio of 105.33 and a beta of 1.49. The firm’s 50 day moving average price is $33.48 and its 200-day moving average price is $28.67.

Insiders Place Their Bets

In related news, President James Patrick Reilly sold 10,000 shares of the 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 transaction, the president now owns 272,124 shares of the company’s stock, valued at $10,136,619. This represents a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Benz sold 22,300 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $37.43, for a total transaction of $834,689.00. Following the transaction, the director now owns 80,766 shares of the company’s stock, valued at approximately $3,023,071.38. This represents a 21.64 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Red Violet

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in Red Violet by 1.2% in the third quarter. Geode Capital Management LLC now owns 256,418 shares of the company’s stock valued at $7,297,000 after buying an additional 3,009 shares in the last quarter. State Street Corp grew its holdings in Red Violet by 5.7% during the 3rd quarter. State Street Corp now owns 188,993 shares of the company’s stock worth $5,377,000 after acquiring an additional 10,199 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Red Violet by 16.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 86,511 shares of the company’s stock valued at $2,196,000 after acquiring an additional 11,964 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Red Violet by 323.4% in the second quarter. Marshall Wace LLP now owns 56,561 shares of the company’s stock worth $1,437,000 after acquiring an additional 43,203 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Red Violet by 158.3% during the third quarter. Los Angeles Capital Management LLC now owns 56,050 shares of the company’s stock worth $1,595,000 after purchasing an additional 34,348 shares in the last quarter. 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.