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

Shares of Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) 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 trading hands.

Red Violet Stock Performance

The business's 50-day moving average price is $37.51 and its 200-day moving average price is $33.73. The stock has a market cap of $534.03 million, a P/E ratio of 107.56 and a beta of 1.49.

Institutional Investors Weigh In On Red Violet

A number of hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC grew its position in shares of Red Violet by 56.4% during the 4th quarter. Squarepoint Ops LLC now owns 43,928 shares of the company's stock valued at $1,590,000 after acquiring an additional 15,840 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of Red Violet during the 4th quarter valued at $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Red Violet by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,274 shares of the company's stock valued at $227,000 after acquiring an additional 259 shares during the period. Lazard Asset Management LLC grew its position in shares of Red Violet by 65.3% during the 4th quarter. Lazard Asset Management LLC now owns 34,518 shares of the company's stock valued at $1,249,000 after acquiring an additional 13,631 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Red Violet by 32.4% during the 4th quarter. Janus Henderson Group PLC now owns 32,190 shares of the company's stock valued at $1,165,000 after acquiring an additional 7,885 shares during the period. Institutional investors own 63.56% of the company's stock.

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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.