Red Violet (NASDAQ:RDVT) Shares Gap Up – Here’s Why

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 Stock Performance

The firm 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 two-hundred day simple moving average is $33.37.

Red Violet Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in Red Violet during the fourth quarter worth about $88,000. Wells Fargo & Company MN increased its holdings in shares of Red Violet by 58.0% during the 4th quarter. Wells Fargo & Company MN now owns 5,688 shares of the company’s stock worth $206,000 after buying an additional 2,089 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Red Violet during the 4th quarter worth approximately $207,000. Hsbc Holdings PLC purchased a new stake in shares of Red Violet during the 4th quarter valued at approximately $215,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 valued at $227,000 after acquiring an additional 259 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.