Red Violet (NASDAQ:RDVT) Trading Down 5.3% on Insider Selling

Red Violet, Inc. (NASDAQ:RDVT)’s share price dropped 5.3% during trading on Tuesday following insider selling activity. The stock traded as low as $36.61 and last traded at $36.72. Approximately 49,557 shares traded hands during mid-day trading, an increase of 0% from the average daily volume of 49,390 shares. The stock had previously closed at $38.78.

Specifically, President James Patrick Reilly sold 10,000 shares of the company’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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website.

Red Violet Trading Down 4.7 %

The company’s 50 day simple moving average is $30.41 and its 200 day simple moving average is $26.76. The stock has a market capitalization of $509.61 million, a PE ratio of 102.64 and a beta of 1.46.

Institutional Investors Weigh In On Red Violet

Several hedge funds have recently made changes to their positions in RDVT. Lazard Asset Management LLC increased its stake in Red Violet by 352.9% in the first quarter. Lazard Asset Management LLC now owns 3,614 shares of the company’s stock valued at $70,000 after purchasing an additional 2,816 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Red Violet during the 3rd quarter valued at about $199,000. Cubist Systematic Strategies LLC acquired a new position in shares of Red Violet during the 2nd quarter valued at about $204,000. PDT Partners LLC purchased a new position in shares of Red Violet during the 3rd quarter worth about $325,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Red Violet by 157.8% in the third quarter. BNP Paribas Financial Markets now owns 11,613 shares of the company’s stock worth $330,000 after acquiring an additional 7,108 shares during the last quarter. Institutional investors and hedge funds own 63.56% of the company’s stock.

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.