Pier 88 Investment Partners LLC Acquires New Position in Revolve Group, Inc. (NYSE:RVLV)

Pier 88 Investment Partners LLC acquired a new stake in Revolve Group, Inc. (NYSE:RVLV) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,040 shares of the company’s stock, valued at approximately $537,000.

A number of other institutional investors have also recently bought and sold shares of the business. Venturi Wealth Management LLC increased its stake in shares of Revolve Group by 1,302.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,346 shares of the company’s stock valued at $45,000 after acquiring an additional 1,250 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in Revolve Group in the fourth quarter valued at approximately $50,000. Northwest & Ethical Investments L.P. bought a new stake in Revolve Group in the fourth quarter valued at approximately $87,000. Harvest Fund Management Co. Ltd acquired a new stake in Revolve Group in the fourth quarter worth $117,000. Finally, AlphaQuest LLC boosted its position in shares of Revolve Group by 7.7% during the fourth quarter. AlphaQuest LLC now owns 5,535 shares of the company’s stock worth $185,000 after purchasing an additional 396 shares in the last quarter. Institutional investors and hedge funds own 67.60% of the company’s stock.

Insider Activity at Revolve Group

In other news, CEO Michael Mente sold 69,605 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $29.77, for a total value of $2,072,140.85. Following the completion of the transaction, the chief executive officer now directly owns 73,000 shares in the company, valued at approximately $2,173,210. The trade was a 48.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Karanikolas sold 12,566 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $25.94, for a total transaction of $325,962.04. Following the sale, the chief executive officer now directly owns 123,000 shares of the company’s stock, valued at approximately $3,190,620. This trade represents a 9.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 372,373 shares of company stock worth $11,268,499. Company insiders own 46.56% of the company’s stock.

Wall Street Analysts Forecast Growth

RVLV has been the topic of several research analyst reports. Jefferies Financial Group raised Revolve Group from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Friday, March 14th. KeyCorp raised Revolve Group from a “sector weight” rating to an “overweight” rating and set a $37.00 price target on the stock in a research report on Thursday, January 23rd. Roth Mkm reiterated a “buy” rating and set a $36.00 price objective (up previously from $35.00) on shares of Revolve Group in a report on Wednesday, February 26th. BMO Capital Markets increased their target price on Revolve Group from $15.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus dropped their target price on shares of Revolve Group from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Revolve Group currently has an average rating of “Moderate Buy” and a consensus target price of $30.53.

Revolve Group Stock Down 4.0 %

Shares of NYSE:RVLV opened at $22.24 on Monday. Revolve Group, Inc. has a 12-month low of $14.87 and a 12-month high of $39.58. The company’s 50 day moving average price is $27.38 and its two-hundred day moving average price is $29.20. The firm has a market cap of $1.58 billion, a PE ratio of 39.72, a PEG ratio of 1.48 and a beta of 2.25.

About Revolve Group

Revolve Group, Inc operates as an online fashion retailer for millennial and generation z consumers in the United States and internationally. The company operates in two segments, REVOLVE and FWRD. It operates a platform that connects consumers and global fashion influencers, as well as emerging, established, and owned brands.