Allspring Global Investments Holdings LLC Acquires 17,044 Shares of Revolve Group, Inc. (NYSE:RVLV)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Revolve Group, Inc. (NYSE:RVLV) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 863,854 shares of the company’s stock after purchasing an additional 17,044 shares during the period. Allspring Global Investments Holdings LLC owned about 1.18% of Revolve Group worth $14,167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC grew its holdings in Revolve Group by 17.7% during the 1st quarter. William Blair Investment Management LLC now owns 5,616,240 shares of the company’s stock valued at $147,707,000 after buying an additional 845,814 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Revolve Group by 1.3% during the first quarter. Vanguard Group Inc. now owns 3,873,370 shares of the company’s stock worth $207,961,000 after purchasing an additional 48,189 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Revolve Group by 3.3% during the first quarter. BlackRock Inc. now owns 2,805,014 shares of the company’s stock worth $73,772,000 after purchasing an additional 88,916 shares in the last quarter. State Street Corp grew its holdings in shares of Revolve Group by 10.0% during the first quarter. State Street Corp now owns 1,018,455 shares of the company’s stock worth $26,785,000 after purchasing an additional 92,660 shares in the last quarter. Finally, GW&K Investment Management LLC grew its holdings in shares of Revolve Group by 36.6% during the first quarter. GW&K Investment Management LLC now owns 1,014,049 shares of the company’s stock worth $26,669,000 after purchasing an additional 271,888 shares in the last quarter. 73.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RVLV shares. Piper Sandler cut their price objective on Revolve Group from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, August 3rd. Barclays cut their price objective on Revolve Group from $17.00 to $15.00 and set an “underweight” rating for the company in a report on Thursday, August 3rd. Wedbush restated a “neutral” rating and issued a $19.00 target price on shares of Revolve Group in a research report on Thursday, August 3rd. Stifel Nicolaus restated a “buy” rating and issued a $20.00 target price on shares of Revolve Group in a research report on Monday, September 18th. Finally, Morgan Stanley dropped their target price on Revolve Group from $21.00 to $19.00 and set an “equal weight” rating for the company in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Revolve Group presently has a consensus rating of “Hold” and an average target price of $21.46.

Revolve Group Price Performance

Shares of RVLV stock opened at $13.00 on Tuesday. The stock has a market cap of $955.24 million, a price-to-earnings ratio of 23.21, a PEG ratio of 7.21 and a beta of 2.15. The business’s fifty day moving average is $13.86 and its 200 day moving average is $16.35. Revolve Group, Inc. has a twelve month low of $12.25 and a twelve month high of $32.59. The company has a quick ratio of 1.86, a current ratio of 2.97 and a debt-to-equity ratio of 0.09.

Revolve Group (NYSE:RVLV) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. The company had revenue of $273.70 million for the quarter, compared to analysts’ expectations of $273.77 million. Revolve Group had a return on equity of 10.67% and a net margin of 3.82%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. Research analysts expect that Revolve Group, Inc. will post 0.49 EPS for the current fiscal year.

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. It operates in two segments, REVOLVE and FWRD. The company operates a platform that connects consumers and global fashion influencers, as well as emerging, established, and owned brands.