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

Pier 88 Investment Partners LLC bought a new stake in Revolve Group, Inc. (NYSE:RVLV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,040 shares of the company's stock, valued at approximately $537,000.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC boosted 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 valued at $45,000 after purchasing an additional 1,250 shares during the period. Sugar Maple Asset Management LLC acquired a new position in Revolve Group during the 4th quarter worth $50,000. Northwest & Ethical Investments L.P. acquired a new stake in Revolve Group in the 4th quarter valued at about $87,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Revolve Group in the 4th quarter valued at about $117,000. Finally, AlphaQuest LLC grew 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 buying an additional 396 shares in the last quarter. Institutional investors and hedge funds own 67.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on RVLV. KeyCorp raised shares of Revolve Group from a "sector weight" rating to an "overweight" rating and set a $37.00 price objective on the stock in a report on Thursday, January 23rd. BMO Capital Markets increased their price objective on Revolve Group from $15.00 to $19.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 26th. Jefferies Financial Group raised Revolve Group from a "hold" rating to a "buy" rating and set a $30.00 target price on the stock in a report on Friday, March 14th. Barclays increased their price target on Revolve Group from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Finally, Roth Mkm restated a "buy" rating and issued a $36.00 target price (up previously from $35.00) on shares of Revolve Group in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.53.

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Revolve Group Stock Down 2.9 %

Shares of RVLV traded down $0.55 during mid-day trading on Friday, hitting $18.35. The stock had a trading volume of 1,100,979 shares, compared to its average volume of 1,057,511. The company's fifty day simple moving average is $26.60 and its two-hundred day simple moving average is $29.05. Revolve Group, Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $39.58. The company has a market cap of $1.31 billion, a PE ratio of 32.77, a PEG ratio of 1.48 and a beta of 2.10.

Insider Activity at Revolve Group

In other Revolve Group news, CEO Michael Mente sold 69,605 shares of the business's stock in a transaction dated 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 sale, 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 ownership of the stock. 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 Revolve Group 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 transaction, the chief executive officer now directly owns 123,000 shares in the company, valued at $3,190,620. This represents a 9.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 372,373 shares of company stock valued at $11,268,499 in the last quarter. 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.