Stephens Investment Management Group LLC decreased its stake in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 19.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 629,909 shares of the company's stock after selling 156,429 shares during the quarter. Stephens Investment Management Group LLC owned about 0.89% of Revolve Group worth $15,609,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in RVLV. Benjamin F. Edwards & Company Inc. raised its stake in shares of Revolve Group by 91.1% in 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. Quarry LP purchased a new position in shares of Revolve Group in the second quarter worth $68,000. American Century Companies Inc. purchased a new position in shares of Revolve Group in the second quarter worth $165,000. nVerses Capital LLC purchased a new position in shares of Revolve Group in the third quarter worth $171,000. Finally, Pier 88 Investment Partners LLC purchased a new position in shares of Revolve Group in the second quarter worth $182,000. Hedge funds and other institutional investors own 67.60% of the company's stock.
In related news, major shareholder Mmmk Development, Inc. sold 33,164 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $26.26, for a total transaction of $870,886.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael Mente sold 48,346 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $26.32, for a total transaction of $1,272,466.72. Following the completion of the transaction, the chief executive officer now directly owns 73,000 shares of the company's stock, valued at approximately $1,921,360. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Mmmk Development, Inc. sold 33,164 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $26.26, for a total value of $870,886.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,573 shares of company stock worth $3,260,634. 46.56% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on RVLV. TD Cowen boosted their price target on Revolve Group from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, August 26th. Piper Sandler restated an "overweight" rating and issued a $30.00 price target on shares of Revolve Group in a research note on Friday, August 23rd. Wedbush reaffirmed a "neutral" rating and issued a $19.00 price objective on shares of Revolve Group in a report on Wednesday, August 7th. Robert W. Baird lifted their price objective on Revolve Group from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, August 14th. Finally, Evercore ISI lifted their price objective on Revolve Group from $20.00 to $21.00 and gave the stock an "in-line" rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $22.44.
Read Our Latest Research Report on Revolve Group
Shares of RVLV opened at $24.99 on Friday. The business has a 50-day simple moving average of $24.38 and a two-hundred day simple moving average of $20.89. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 55.52, a PEG ratio of 2.44 and a beta of 2.05. Revolve Group, Inc. has a 52 week low of $12.42 and a 52 week high of $26.72.
Revolve Group (NYSE:RVLV - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.08. Revolve Group had a return on equity of 8.35% and a net margin of 3.08%. The business had revenue of $282.50 million during the quarter, compared to analysts' expectations of $277.06 million. During the same quarter in the prior year, the business posted $0.10 earnings per share. The business's quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts anticipate that Revolve Group, Inc. will post 0.55 earnings per share for the current fiscal year.
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.
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