Red Violet (NASDAQ:RDVT) Sees Large Volume Increase – Still a Buy?

Shares of Red Violet, Inc. (NASDAQ:RDVT) saw an uptick in trading volume on Friday . 119,693 shares traded hands during trading, an increase of 150% from the previous session’s volume of 47,963 shares.The stock last traded at $38.01 and had previously closed at $36.53.

Red Violet Price Performance

The stock has a market capitalization of $525.54 million, a PE ratio of 105.86 and a beta of 1.46. The firm’s 50 day simple moving average is $30.22 and its 200 day simple moving average is $26.51.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quadrature Capital Ltd grew its stake in shares of Red Violet by 3.7% in the first quarter. Quadrature Capital Ltd now owns 19,480 shares of the company’s stock worth $383,000 after purchasing an additional 702 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Red Violet by 5.7% during the second quarter. Rhumbline Advisers now owns 14,578 shares of the company’s stock valued at $370,000 after buying an additional 781 shares during the period. Kennedy Capital Management LLC raised its holdings in shares of Red Violet by 3.7% during the first quarter. Kennedy Capital Management LLC now owns 24,190 shares of the company’s stock valued at $473,000 after acquiring an additional 862 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Red Violet by 4.3% in the third quarter. Janus Henderson Group PLC now owns 24,305 shares of the company’s stock worth $691,000 after acquiring an additional 992 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings 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 acquiring an additional 2,816 shares in the last quarter. Hedge funds and other institutional investors 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.