Revolve Group (NYSE:RVLV) Hits New 12-Month High – Here’s Why

Revolve Group, Inc. (NYSE:RVLV) hit a new 52-week high on Tuesday . The stock traded as high as $39.58 and last traded at $38.13, with a volume of 111289 shares changing hands. The stock had previously closed at $38.11.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RVLV. BTIG Research raised their target price on Revolve Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Roth Mkm reiterated a “buy” rating and issued a $35.00 target price (up from $29.00) on shares of Revolve Group in a report on Wednesday, November 6th. Piper Sandler boosted their price target on shares of Revolve Group from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. UBS Group upped their target price 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. Finally, 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, November 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.25.

Revolve Group Trading Down 1.5 %

The stock has a market cap of $2.66 billion, a PE ratio of 68.05, a P/E/G ratio of 2.34 and a beta of 2.19. The business has a fifty day simple moving average of $31.18 and a two-hundred day simple moving average of $24.06.

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

Insider Buying and Selling

In related news, major shareholder Mmmk Development, Inc. sold 6,493 shares of Revolve Group stock in a transaction dated Thursday, September 19th. The stock was 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 can be accessed through this hyperlink. Also, CEO Michael Mente sold 98,429 shares of Revolve Group stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $34.87, for a total transaction of $3,432,219.23. Following the completion of the sale, the chief executive officer now owns 123,000 shares of the company’s stock, valued at $4,289,010. This represents a 44.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 770,512 shares of company stock worth $24,534,363 in the last quarter. Corporate insiders own 46.56% of the company’s stock.

Hedge Funds Weigh In On Revolve Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Precision Wealth Strategies LLC increased its position in Revolve Group by 3.3% during the third quarter. Precision Wealth Strategies LLC now owns 12,741 shares of the company’s stock valued at $316,000 after acquiring an additional 407 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Revolve Group by 249.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,126 shares of the company’s stock valued at $28,000 after purchasing an additional 804 shares during the last quarter. Versor Investments LP lifted its stake in shares of Revolve Group by 9.0% in the 2nd quarter. Versor Investments LP now owns 16,953 shares of the company’s stock worth $270,000 after purchasing an additional 1,405 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Revolve Group by 6.9% in the third quarter. Franklin Resources Inc. now owns 27,195 shares of the company’s stock worth $699,000 after buying an additional 1,753 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in Revolve Group by 91.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,069 shares of the company’s stock valued at $65,000 after buying an additional 1,940 shares during the period. 67.60% of the stock is owned by institutional investors.

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.