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

Shares of Red Violet, Inc. (NASDAQ:RDVT) gapped up prior to trading 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 Price Performance

The company has a market capitalization of $560.23 million, a PE ratio of 112.83 and a beta of 1.49. The stock’s 50 day simple moving average is $37.38 and its 200-day simple moving average is $33.37.

Red Violet Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, January 31st.

Institutional Investors Weigh In On Red Violet

A number of hedge funds have recently added to or reduced their stakes in RDVT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Red Violet by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,274 shares of the company’s stock worth $227,000 after acquiring an additional 259 shares in the last quarter. Janus Henderson Group PLC grew its stake in Red Violet by 4.3% during the 3rd quarter. Janus Henderson Group PLC now owns 24,305 shares of the company’s stock worth $691,000 after purchasing an additional 992 shares in the last quarter. SG Americas Securities LLC grew its stake in Red Violet by 14.3% during the 4th quarter. SG Americas Securities LLC now owns 7,990 shares of the company’s stock worth $289,000 after purchasing an additional 998 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Red Violet by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 34,105 shares of the company’s stock worth $1,235,000 after purchasing an additional 1,068 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Red Violet by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,083 shares of the company’s stock valued at $1,161,000 after purchasing an additional 1,181 shares in the last quarter. 63.56% of the stock is currently 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.