Revolve Group (NYSE:RVLV) Sets New 1-Year High – Here’s Why

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

Wall Street Analyst Weigh In

A number of research firms have commented on RVLV. Stifel Nicolaus boosted their price target on shares of Revolve Group from $35.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. TD Cowen raised their target price on shares of Revolve Group from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Roth Mkm restated a “buy” rating and set a $35.00 price target (up previously from $29.00) on shares of Revolve Group in a report on Wednesday, November 6th. UBS Group raised their price objective on shares of Revolve Group from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $26.00 target price (up from $17.00) on shares of Revolve Group in a research note on Monday, October 21st. One equities research 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 an average rating of “Hold” and an average target price of $27.25.

Revolve Group Price Performance

The company has a 50 day simple moving average of $31.61 and a 200-day simple moving average of $24.25. The stock has a market cap of $2.38 billion, a P/E ratio of 60.16, a price-to-earnings-growth ratio of 2.34 and a beta of 2.19.

Revolve Group (NYSE:RVLV) last released its earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The business had revenue of $283.15 million for the quarter, compared to the consensus estimate of $271.08 million. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 earnings per share. As a group, research analysts expect that Revolve Group, Inc. will post 0.6 earnings per share for the current year.

Insider Activity at Revolve Group

In related news, CEO Michael Mente sold 36,114 shares of Revolve Group 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 directly owns 73,000 shares in the company, valued at $1,894,350. The trade was a 33.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Mmmk Development, Inc. sold 33,164 shares of the stock in a transaction on Wednesday, October 16th. The stock was 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 have sold 763,563 shares of company stock worth $24,354,241. 46.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Revolve Group

Hedge funds have recently modified their holdings of the business. Marshall Wace LLP lifted its stake in Revolve Group by 141.2% in the second quarter. Marshall Wace LLP now owns 478,623 shares of the company’s stock valued at $7,615,000 after acquiring an additional 280,151 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in Revolve Group in the 3rd quarter valued at about $3,982,000. Millennium Management LLC raised its holdings in Revolve Group by 68.1% in the 2nd quarter. Millennium Management LLC now owns 342,084 shares of the company’s stock valued at $5,443,000 after acquiring an additional 138,600 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Revolve Group by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 683,101 shares of the company’s stock valued at $10,867,000 after purchasing an additional 123,745 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in shares of Revolve Group during the third quarter worth approximately $2,276,000. Institutional investors and hedge funds own 67.60% of the company’s stock.

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.