Revolve Group, Inc. (NYSE:RVLV) CEO Michael Mente Sells 71,463 Shares

Revolve Group, Inc. (NYSE:RVLV) CEO Michael Mente sold 71,463 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $35.20, for a total value of $2,515,497.60. Following the completion of the transaction, the chief executive officer now directly owns 73,000 shares in the company, valued at approximately $2,569,600. This trade represents a 49.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Michael Mente also recently made the following trade(s):

• On Wednesday, November 20th, Michael Mente sold 73,783 shares of Revolve Group stock. The shares were sold at an average price of $33.41, for a total transaction of $2,465,090.03.
• On Wednesday, November 6th, Michael Mente sold 200,000 shares of Revolve Group stock. The stock was sold at an average price of $31.43, for a total transaction of $6,286,000.00.
• On Monday, November 4th, Michael Mente sold 20,373 shares of Revolve Group stock. The shares were sold at an average price of $25.95, for a total transaction of $528,679.35.
• On Thursday, October 17th, Michael Mente sold 48,346 shares of Revolve Group stock. The stock was sold at an average price of $26.32, for a total transaction of $1,272,466.72.
• On Tuesday, October 15th, Michael Mente sold 36,114 shares of Revolve Group stock. The shares were sold at an average price of $25.95, for a total value of $937,158.30.
• On Wednesday, September 18th, Michael Mente sold 456 shares of Revolve Group stock. The stock was sold at an average price of $25.93, for a total value of $11,824.08.

Revolve Group Stock Performance

Shares of NYSE RVLV opened at $35.02 on Monday. The stock’s 50-day simple moving average is $27.30 and its 200-day simple moving average is $22.23. The firm has a market capitalization of $2.48 billion, a PE ratio of 62.54, a price-to-earnings-growth ratio of 2.20 and a beta of 2.05. Revolve Group, Inc. has a fifty-two week low of $13.24 and a fifty-two week high of $35.86.

Revolve Group (NYSE:RVLV) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Revolve Group had a net margin of 3.72% and a return on equity of 10.17%. The company had revenue of $283.15 million for the quarter, compared to analysts’ expectations of $271.08 million. During the same quarter last year, the company earned $0.04 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, sell-side analysts forecast that Revolve Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revolve Group

Several hedge funds and other institutional investors have recently bought and sold shares of RVLV. Barclays PLC boosted its stake in Revolve Group by 156.7% in the third quarter. Barclays PLC now owns 85,613 shares of the company’s stock valued at $2,122,000 after acquiring an additional 52,257 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of Revolve Group in the 3rd quarter valued at about $3,982,000. HighTower Advisors LLC purchased a new position in Revolve Group during the 3rd quarter worth approximately $250,000. Centiva Capital LP grew its stake in Revolve Group by 238.3% during the 3rd quarter. Centiva Capital LP now owns 56,133 shares of the company’s stock worth $1,391,000 after buying an additional 39,538 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in Revolve Group in the third quarter valued at approximately $2,165,000. 67.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RVLV has been the topic of several research reports. Roth Mkm reissued a “buy” rating and set a $35.00 target price (up previously from $29.00) on shares of Revolve Group in a research note on Wednesday, November 6th. Robert W. Baird raised their price objective on shares of Revolve Group from $24.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Piper Sandler upped their target price on shares of Revolve Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Evercore ISI increased their target price on shares of Revolve Group from $21.00 to $33.00 and gave the stock an “in-line” rating in a report on Wednesday, November 6th. Finally, Wedbush restated a “neutral” rating and issued a $19.00 price target on shares of Revolve Group in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.19.

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.