Revolve Group (NYSE:RVLV) Reaches New 12-Month High on Earnings Beat

Revolve Group, Inc. (NYSE:RVLV) shares hit a new 52-week high on Wednesday following a better than expected earnings announcement. The stock traded as high as $31.94 and last traded at $29.80, with a volume of 269511 shares changing hands. The stock had previously closed at $26.02.

The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $283.15 million for the quarter, compared to analyst estimates of $271.08 million. Revolve Group had a net margin of 3.08% and a return on equity of 8.35%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.04 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Robert W. Baird raised their price objective on Revolve Group from $24.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday. TD Cowen raised their price target on shares of Revolve Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Roth Mkm lifted their price target on shares of Revolve Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wedbush reissued a “neutral” rating and set a $19.00 price objective on shares of Revolve Group in a report on Wednesday, August 7th. Finally, Barclays raised shares of Revolve Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $17.00 to $25.00 in a research report on Wednesday. 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.81.

Insider Transactions at Revolve Group

In other news, CEO Michael Mente sold 36,114 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $25.95, for a total transaction of $937,158.30. Following the completion of the transaction, the chief executive officer now owns 73,000 shares in the company, valued at approximately $1,894,350. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Mmmk Development, Inc. sold 33,164 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $26.26, for a total value of $870,886.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Mente sold 36,114 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $25.95, for a total value of $937,158.30. Following the transaction, the chief executive officer now owns 73,000 shares of the company’s stock, valued at $1,894,350. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,573 shares of company stock worth $3,260,634. 46.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RVLV. Farther Finance Advisors LLC increased its stake in shares of Revolve Group by 249.7% during the third quarter. Farther Finance Advisors LLC now owns 1,126 shares of the company’s stock valued at $28,000 after acquiring an additional 804 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Revolve Group by 91.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,069 shares of the company’s stock valued at $65,000 after purchasing an additional 1,940 shares during the period. Quarry LP bought a new stake in shares of Revolve Group in the 2nd quarter worth $68,000. American Century Companies Inc. bought a new stake in shares of Revolve Group in the 2nd quarter worth $165,000. Finally, nVerses Capital LLC acquired a new stake in shares of Revolve Group in the third quarter valued at $171,000. 67.60% of the stock is owned by institutional investors and hedge funds.

Revolve Group Stock Up 19.5 %

The company has a 50 day moving average of $24.41 and a two-hundred day moving average of $20.96. The firm has a market cap of $2.20 billion, a P/E ratio of 69.04, a PEG ratio of 2.43 and a beta of 2.05.

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.