Azzad Asset Management Inc. ADV Sells 17,129 Shares of Revolve Group, Inc. (NYSE:RVLV)

Azzad Asset Management Inc. ADV trimmed its position in shares of Revolve Group, Inc. (NYSE:RVLV) by 24.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,043 shares of the company’s stock after selling 17,129 shares during the period. Azzad Asset Management Inc. ADV owned about 0.08% of Revolve Group worth $1,314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. bought a new position in shares of Revolve Group during the first quarter valued at about $45,000. Quarry LP bought a new position in Revolve Group in the second quarter worth about $68,000. American Century Companies Inc. bought a new position in Revolve Group in the second quarter worth about $165,000. Pier 88 Investment Partners LLC bought a new position in Revolve Group in the second quarter worth about $182,000. Finally, Hsbc Holdings PLC bought a new position in Revolve Group in the second quarter worth about $260,000. 67.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.92, for a total value of $168,298.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 46.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RVLV shares. BTIG Research upped their price objective on shares of Revolve Group from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, August 16th. TD Cowen upped their price objective on shares of Revolve Group from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Piper Sandler restated an “overweight” rating and issued a $30.00 price objective on shares of Revolve Group in a report on Friday, August 23rd. Robert W. Baird increased their price target on shares of Revolve Group from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Finally, Wedbush restated a “neutral” rating and set a $19.00 price objective on shares of Revolve Group in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Revolve Group presently has a consensus rating of “Hold” and an average target price of $21.63.

Revolve Group Price Performance

Shares of RVLV stock opened at $23.44 on Tuesday. Revolve Group, Inc. has a 1 year low of $12.42 and a 1 year high of $26.14. The stock’s 50 day simple moving average is $23.01 and its two-hundred day simple moving average is $20.18. The company has a market cap of $1.66 billion, a PE ratio of 68.94, a price-to-earnings-growth ratio of 2.34 and a beta of 2.05.

Revolve Group (NYSE:RVLV) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.08. Revolve Group had a return on equity of 8.35% and a net margin of 3.08%. The firm had revenue of $282.50 million for the quarter, compared to the consensus estimate of $277.06 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts expect that Revolve Group, Inc. will post 0.56 EPS for the current year.

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.