Red Violet (NASDAQ:RDVT) Hits New 52-Week High - Here's What Happened

Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $40.70 and last traded at $40.32, with a volume of 134191 shares traded. The stock had previously closed at $39.41.

Red Violet Stock Up 1.9 %

The firm has a market capitalization of $595.18 million, a price-to-earnings ratio of 119.89 and a beta of 1.49. The stock's 50 day moving average price is $37.10 and its two-hundred day moving average price is $32.44.

Red Violet Dividend Announcement

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

Insiders Place Their Bets

In other Red Violet news, Director Peter Benz sold 22,300 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $37.43, for a total transaction of $834,689.00. Following the transaction, the director now directly owns 80,766 shares of the company's stock, valued at $3,023,071.38. This represents a 21.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President James Patrick Reilly sold 10,000 shares of the firm's 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 sale, the president now directly owns 272,124 shares in the company, 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. Company insiders own 9.50% of the company's stock.

Institutional Investors Weigh In On Red Violet

Several hedge funds and other institutional investors have recently made changes to their positions in RDVT. Quantbot Technologies LP acquired a new stake in shares of Red Violet in the fourth quarter valued at about $88,000. SG Americas Securities LLC bought a new stake in shares of Red Violet in the third quarter valued at about $199,000. Wells Fargo & Company MN lifted its stake in shares of Red Violet by 58.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,688 shares of the company's stock valued at $206,000 after buying an additional 2,089 shares during the period. Franklin Resources Inc. bought a new stake in shares of Red Violet in the fourth quarter valued at about $207,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Red Violet in the fourth quarter valued at about $215,000. 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.