Pier 88 Investment Partners LLC Invests $537,000 in Revolve Group, Inc. (NYSE:RVLV)

Pier 88 Investment Partners LLC purchased a new stake in shares of Revolve Group, Inc. (NYSE:RVLV) during the 4th quarter, Holdings Channel reports. The fund purchased 16,040 shares of the company’s stock, valued at approximately $537,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. AlphaQuest LLC grew its holdings in Revolve Group by 7.7% during the 4th quarter. AlphaQuest LLC now owns 5,535 shares of the company’s stock worth $185,000 after acquiring an additional 396 shares during the last quarter. Navellier & Associates Inc. lifted its holdings in shares of Revolve Group by 4.1% during the fourth quarter. Navellier & Associates Inc. now owns 25,711 shares of the company’s stock worth $861,000 after purchasing an additional 1,008 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Revolve Group by 1,302.1% in the fourth quarter. Venturi Wealth Management LLC now owns 1,346 shares of the company’s stock worth $45,000 after purchasing an additional 1,250 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new stake in Revolve Group in the fourth quarter valued at $50,000. Finally, Franklin Resources Inc. raised its position in Revolve Group by 6.9% during the 3rd quarter. Franklin Resources Inc. now owns 27,195 shares of the company’s stock worth $699,000 after purchasing an additional 1,753 shares during the last quarter. 67.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RVLV has been the topic of a number of analyst reports. KeyCorp upgraded 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. Barclays upped their target price on Revolve Group from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Jefferies Financial Group upgraded shares of Revolve Group from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, March 14th. Stifel Nicolaus reduced their price objective on shares of Revolve Group from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, 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. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Revolve Group currently has an average rating of “Moderate Buy” and a consensus target price of $30.53.

Insider Activity

In other Revolve Group news, CEO Michael Karanikolas sold 12,566 shares of the business’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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Mente sold 69,605 shares of the firm’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 owns 73,000 shares in the company, valued at $2,173,210. This represents a 48.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 372,373 shares of company stock worth $11,268,499 over the last three months. 46.56% of the stock is currently owned by insiders.

Revolve Group Trading Down 4.0 %

NYSE RVLV opened at $22.24 on Monday. The company has a market cap of $1.58 billion, a P/E ratio of 39.72, a PEG ratio of 1.48 and a beta of 2.25. The company has a fifty day simple moving average of $27.38 and a 200 day simple moving average of $29.20. Revolve Group, Inc. has a 12-month low of $14.87 and a 12-month high of $39.58.

Revolve Group Company Profile

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.