Red Violet (NASDAQ:RDVT) Shares Gap Up – Still a Buy?

Shares of Red Violet, Inc. (NASDAQ:RDVT) gapped up before the market opened on Friday . The stock had previously closed at $38.02, but opened at $39.66. Red Violet shares last traded at $39.50, with a volume of 37,884 shares traded.

Red Violet Price Performance

The company has a market capitalization of $560.23 million, a price-to-earnings ratio of 112.83 and a beta of 1.49. The firm has a 50-day moving average price of $37.43 and a two-hundred day moving average price of $33.47.

Red Violet Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, January 31st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Red Violet during the fourth quarter valued at approximately $88,000. Wells Fargo & Company MN boosted its position in Red Violet by 58.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,688 shares of the company’s stock valued at $206,000 after purchasing an additional 2,089 shares during the last quarter. Franklin Resources Inc. acquired a new position in Red Violet during the fourth quarter valued at approximately $207,000. Hsbc Holdings PLC acquired a new position in Red Violet during the fourth quarter valued at approximately $215,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Red Violet by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,274 shares of the company’s stock valued at $227,000 after purchasing an additional 259 shares during the last quarter. 63.56% of the stock is owned by institutional investors and hedge funds.

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.