Red Violet (NASDAQ:RDVT) Sees Strong Trading Volume – Here’s What Happened

Red Violet, Inc. (NASDAQ:RDVT) shares saw unusually-strong trading volume on Friday . Approximately 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 firm’s fifty day simple moving average is $30.04 and its 200 day simple moving average is $26.37. The company has a market capitalization of $525.61 million, a price-to-earnings ratio of 105.89 and a beta of 1.46.

Institutional Trading of Red Violet

A number of hedge funds have recently modified their holdings of RDVT. Quadrature Capital Ltd increased its stake in Red Violet by 3.7% in the 1st quarter. Quadrature Capital Ltd now owns 19,480 shares of the company’s stock valued at $383,000 after buying an additional 702 shares during the period. Rhumbline Advisers increased its stake in shares of Red Violet by 5.7% in the second quarter. Rhumbline Advisers now owns 14,578 shares of the company’s stock worth $370,000 after acquiring an additional 781 shares during the last quarter. Kennedy Capital Management LLC boosted its position in 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 purchasing an additional 862 shares during the last quarter. Janus Henderson Group PLC increased its position in Red Violet by 4.3% in 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 during the last quarter. Finally, Lazard Asset Management LLC increased 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 worth $70,000 after buying an additional 2,816 shares during 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.