Picton Mahoney Asset Management Takes Position in Revolve Group, Inc. (NYSE:RVLV)

Picton Mahoney Asset Management purchased a new stake in Revolve Group, Inc. (NYSE:RVLV) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 104,925 shares of the company’s stock, valued at approximately $3,515,000.

A number of other institutional investors have also modified their holdings of the company. Madison Investment Advisors LLC bought a new stake in shares of Revolve Group in the 4th quarter valued at about $3,606,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Revolve Group by 484.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 80,656 shares of the company’s stock valued at $2,701,000 after buying an additional 66,855 shares in the last quarter. HighTower Advisors LLC boosted its stake in Revolve Group by 86.3% in the 4th quarter. HighTower Advisors LLC now owns 18,782 shares of the company’s stock worth $629,000 after purchasing an additional 8,702 shares in the last quarter. Independent Advisor Alliance acquired a new stake in Revolve Group in the 4th quarter worth approximately $1,736,000. Finally, AlphaQuest LLC boosted its stake in Revolve Group by 7.7% in the 4th 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. 67.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on RVLV. Roth Mkm reiterated a “buy” rating and issued a $36.00 target price (up from $35.00) on shares of Revolve Group in a research note on Wednesday, February 26th. BMO Capital Markets lifted their target price on shares of Revolve Group from $15.00 to $19.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. KeyCorp upgraded shares of Revolve Group from a “sector weight” rating to an “overweight” rating and set a $37.00 target price for the company in a research note on Thursday, January 23rd. Stifel Nicolaus lowered their target price on shares of Revolve Group from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group upgraded shares of Revolve Group from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Friday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.53.

Revolve Group Price Performance

NYSE:RVLV opened at $22.27 on Friday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 1.48 and a beta of 2.25. The company has a 50 day moving average price of $28.86 and a 200-day moving average price of $29.13. Revolve Group, Inc. has a 1-year low of $14.87 and a 1-year high of $39.58.

Insider Activity

In related news, CEO Michael Mente sold 62,441 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $34.20, for a total value of $2,135,482.20. Following the completion of the sale, the chief executive officer now owns 73,000 shares of the company’s stock, valued at approximately $2,496,600. The trade was a 46.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Karanikolas sold 12,566 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 123,000 shares of the company’s stock, valued at approximately $3,190,620. The trade was a 9.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 511,649 shares of company stock valued at $16,027,128 in the last three months. 46.56% of the stock is currently owned by corporate insiders.

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.