Fmr LLC Sells 28,600 Shares of Revolve Group, Inc. (NYSE:RVLV)

Fmr LLC decreased its stake in Revolve Group, Inc. (NYSE:RVLV) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,704,457 shares of the company’s stock after selling 28,600 shares during the period. Fmr LLC owned about 0.08% of Revolve Group worth $141,356,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RVLV. Precision Wealth Strategies LLC increased its holdings in shares of Revolve Group by 3.3% during the third quarter. Precision Wealth Strategies LLC now owns 12,741 shares of the company’s stock worth $316,000 after buying an additional 407 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Revolve Group by 249.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,126 shares of the company’s stock worth $28,000 after purchasing an additional 804 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Revolve Group by 4.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,498 shares of the company’s stock valued at $561,000 after purchasing an additional 1,227 shares during the last quarter. Versor Investments LP boosted its stake in shares of Revolve Group by 9.0% during the second quarter. Versor Investments LP now owns 16,953 shares of the company’s stock valued at $270,000 after purchasing an additional 1,405 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Revolve Group by 91.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,069 shares of the company’s stock worth $65,000 after purchasing an additional 1,940 shares during the last quarter. Institutional investors and hedge funds own 67.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on RVLV shares. Evercore ISI raised their price objective on shares of Revolve Group from $21.00 to $33.00 and gave the company an “in-line” rating in a report on Wednesday, November 6th. UBS Group lifted their price target on shares of Revolve Group from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Barclays upgraded Revolve Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $17.00 to $25.00 in a report on Wednesday, November 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $26.00 target price (up from $17.00) on shares of Revolve Group in a report on Monday, October 21st. Finally, Wedbush reissued a “neutral” rating and issued a $19.00 price target on shares of Revolve Group in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.19.

Revolve Group Stock Down 2.0 %

Shares of RVLV stock opened at $35.50 on Wednesday. The firm has a 50 day moving average of $28.76 and a 200-day moving average of $22.87. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 63.45, a price-to-earnings-growth ratio of 2.29 and a beta of 2.19. Revolve Group, Inc. has a 52 week low of $13.76 and a 52 week high of $39.03.

Revolve Group (NYSE:RVLV) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS 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 business had revenue of $283.15 million during the quarter, compared to analysts’ expectations of $271.08 million. During the same period last year, the company posted $0.04 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. Analysts anticipate that Revolve Group, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In related news, major shareholder Mmmk Development, Inc. sold 6,493 shares of Revolve Group stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.92, for a total value of $168,298.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Mente sold 36,114 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $25.95, for a total transaction of $937,158.30. Following the transaction, the chief executive officer now owns 73,000 shares in the company, valued at approximately $1,894,350. The trade was a 33.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 581,817 shares of company stock worth $17,870,621 in the last three months. Company 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.