Red Violet (NASDAQ:RDVT) Reaches New 52-Week High – Time to Buy?

Red Violet, Inc. (NASDAQ:RDVT) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $40.70 and last traded at $40.32, with a volume of 134191 shares. The stock had previously closed at $39.41.

Red Violet Stock Performance

The firm has a market capitalization of $556.01 million, a P/E ratio of 112.00 and a beta of 1.49. The business has a fifty day moving average of $36.77 and a 200-day moving average of $32.00.

Red Violet Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, January 31st.

Insider Activity at Red Violet

In related news, President James Patrick Reilly sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $37.25, for a total transaction of $372,500.00. Following the sale, the president now owns 272,124 shares of the company’s stock, valued at $10,136,619. The trade was a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Benz sold 22,300 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $37.43, for a total value of $834,689.00. Following the completion of the sale, the director now owns 80,766 shares of the company’s stock, valued at $3,023,071.38. This trade represents a 21.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in Red Violet by 4.3% in the 3rd quarter. Janus Henderson Group PLC now owns 24,305 shares of the company’s stock valued at $691,000 after acquiring an additional 992 shares during the last quarter. SG Americas Securities LLC lifted its stake in Red Violet by 14.3% during the fourth quarter. SG Americas Securities LLC now owns 7,990 shares of the company’s stock valued at $289,000 after purchasing an additional 998 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Red Violet by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 34,105 shares of the company’s stock worth $1,235,000 after buying an additional 1,068 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Red Violet by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,083 shares of the company’s stock worth $1,161,000 after buying an additional 1,181 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 worth $7,297,000 after buying an additional 3,009 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.