Red Violet (NASDAQ:RDVT) Hits New 52-Week High – Still a 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 trading hands. The stock had previously closed at $39.41.

Red Violet Stock Up 0.9 %

The company has a market cap of $555.32 million, a PE ratio of 111.86 and a beta of 1.49. The firm’s 50-day moving average is $36.86 and its 200-day moving average is $32.20.

Red Violet Dividend Announcement

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 Activity at Red Violet

In other Red Violet news, President James Patrick Reilly sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $37.25, for a total transaction of $372,500.00. Following the completion of the transaction, the president now owns 272,124 shares of the company’s stock, valued at approximately $10,136,619. This trade represents 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 accessible through this link. Also, Director Peter Benz sold 22,300 shares of the business’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 directly owns 80,766 shares in the company, valued at approximately $3,023,071.38. This represents a 21.64 % 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 corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new stake in shares of Red Violet in the fourth quarter worth $88,000. SG Americas Securities LLC purchased a new stake in Red Violet during the 3rd quarter valued at about $199,000. Franklin Resources Inc. bought a new stake in Red Violet during the 4th quarter valued at about $207,000. Hennion & Walsh Asset Management Inc. purchased a new position in Red Violet in the fourth quarter worth about $232,000. Finally, Bailard Inc. bought a new position in shares of Red Violet in the fourth quarter worth approximately $243,000. Hedge funds and other institutional investors own 63.56% of the company’s stock.

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.