Cornerstone Investment Partners LLC Takes $218,000 Position in Revolve Group, Inc. (NYSE:RVLV)

Cornerstone Investment Partners LLC acquired a new stake in shares of Revolve Group, Inc. (NYSE:RVLV) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,521 shares of the company’s stock, valued at approximately $218,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. bought a new stake in shares of Revolve Group during the 3rd quarter worth about $3,982,000. JPMorgan Chase & Co. boosted its position in Revolve Group by 83.4% during the third quarter. JPMorgan Chase & Co. now owns 349,670 shares of the company’s stock worth $8,665,000 after purchasing an additional 158,960 shares during the period. Principal Financial Group Inc. acquired a new position in Revolve Group during the fourth quarter valued at approximately $3,250,000. Lisanti Capital Growth LLC bought a new position in shares of Revolve Group in the third quarter valued at approximately $2,276,000. Finally, Maverick Capital Ltd. acquired a new stake in shares of Revolve Group in the third quarter worth $2,165,000. 67.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. 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. BMO Capital Markets lifted their price objective 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. Roth Mkm restated a “buy” rating and set a $36.00 target price (up previously from $35.00) on shares of Revolve Group in a research note on Wednesday, February 26th. KeyCorp raised Revolve Group from a “sector weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a report on Thursday, January 23rd. Finally, Robert W. Baird upped their price target on Revolve Group from $24.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Revolve Group has a consensus rating of “Moderate Buy” and an average price target of $30.57.

Revolve Group Price Performance

Shares of Revolve Group stock opened at $24.13 on Wednesday. Revolve Group, Inc. has a 52-week low of $14.87 and a 52-week high of $39.58. The firm has a market capitalization of $1.71 billion, a PE ratio of 43.09, a price-to-earnings-growth ratio of 1.48 and a beta of 2.25. The company’s fifty day moving average price is $30.47 and its two-hundred day moving average price is $29.18.

Insider Activity

In other news, CEO Michael Mente sold 76,835 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $34.14, for a total value of $2,623,146.90. Following the sale, the chief executive officer now owns 73,000 shares of the company’s stock, valued at approximately $2,492,220. This represents a 51.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 499,083 shares of company stock worth $15,701,166. Corporate insiders own 46.56% of the company’s stock.

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.