Revolve Group (NYSE:RVLV) Trading Up 7.8% – Here’s What Happened

Revolve Group, Inc. (NYSE:RVLV)’s stock price rose 7.8% on Tuesday . The stock traded as high as $28.59 and last traded at $28.3360. Approximately 986,362 shares traded hands during trading, a decline of 24% from the average daily volume of 1,303,008 shares. The stock had previously closed at $26.28.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RVLV. Weiss Ratings restated a “hold (c)” rating on shares of Revolve Group in a report on Wednesday, October 8th. UBS Group upped their price objective on shares of Revolve Group from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Morgan Stanley lifted their target price on Revolve Group from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Barclays upped their target price on Revolve Group from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Evercore ISI reaffirmed a “mixed” rating on shares of Revolve Group in a research report on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.21.

Revolve Group Trading Up 8.2%

The company has a market capitalization of $2.03 billion, a PE ratio of 37.37, a P/E/G ratio of 2.88 and a beta of 1.84. The firm has a 50 day simple moving average of $22.50 and a two-hundred day simple moving average of $21.86.

Revolve Group (NYSE:RVLV) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.11 by $0.13. Revolve Group had a return on equity of 11.26% and a net margin of 4.64%.The business had revenue of $295.63 million during the quarter, compared to analysts’ expectations of $297.36 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts expect that Revolve Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Revolve Group

In other news, CEO Michael Mente sold 41,563 shares of Revolve Group stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $26.02, for a total value of $1,081,469.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 178,739 shares of company stock valued at $4,723,052. 46.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RVLV. New York State Common Retirement Fund lifted its position in shares of Revolve Group by 0.4% during the second quarter. New York State Common Retirement Fund now owns 164,703 shares of the company’s stock worth $3,302,000 after purchasing an additional 627 shares in the last quarter. Arizona State Retirement System grew its holdings in Revolve Group by 6.9% during the 3rd quarter. Arizona State Retirement System now owns 11,946 shares of the company’s stock valued at $254,000 after purchasing an additional 772 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Revolve Group by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,773 shares of the company’s stock worth $489,000 after buying an additional 964 shares during the period. Alliancebernstein L.P. lifted its holdings in Revolve Group by 2.7% in the 3rd quarter. Alliancebernstein L.P. now owns 38,600 shares of the company’s stock worth $822,000 after buying an additional 1,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Revolve Group by 6.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,894 shares of the company’s stock valued at $379,000 after buying an additional 1,113 shares during the last quarter. 67.60% of the stock is owned by hedge funds and other institutional investors.

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.