Red Violet (NASDAQ:RDVT) Reaches New 12-Month High – Still a Buy?

Red Violet, Inc. (NASDAQ:RDVT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $40.03 and last traded at $39.98, with a volume of 79500 shares. The stock had previously closed at $39.34.

Red Violet Trading Down 1.3 %

The stock has a market cap of $543.46 million, a P/E ratio of 109.47 and a beta of 1.49. The stock has a 50 day simple moving average of $36.71 and a 200 day simple moving average of $31.82.

Red Violet Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.30 dividend. The ex-dividend date is Friday, January 31st.

Insider Buying and Selling

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

Institutional Trading of Red Violet

A number of hedge funds have recently made changes to their positions in RDVT. Geode Capital Management LLC raised its position in Red Violet by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 256,418 shares of the company’s stock worth $7,297,000 after purchasing an additional 3,009 shares during the last quarter. State Street Corp lifted its stake in shares of Red Violet by 5.7% in the third 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 period. Dimensional Fund Advisors LP boosted its holdings in Red Violet by 16.0% in the second 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 during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Red Violet by 23.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 69,464 shares of the company’s stock worth $2,515,000 after purchasing an additional 13,414 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Red Violet by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 34,105 shares of the company’s stock valued at $1,235,000 after purchasing an additional 1,068 shares during 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.