Revolve Group (NYSE:RVLV) Hits New 1-Year High Following 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. Revolve Group had a net margin of 3.08% and a return on equity of 8.35%. The business had revenue of $283.15 million for the quarter, compared to analyst estimates of $271.08 million. During the same quarter last year, the firm earned $0.04 EPS. The company’s revenue was up 9.9% on a year-over-year basis.

Analysts Set New Price Targets

A number of research firms have issued reports on RVLV. Morgan Stanley restated an “equal weight” rating and issued a $26.00 price objective (up previously from $17.00) on shares of Revolve Group in a research report on Monday, October 21st. TD Cowen boosted their price objective on shares of Revolve Group from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays upgraded shares of Revolve Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $17.00 to $25.00 in a research report on Wednesday. BTIG Research boosted their price objective on shares of Revolve Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Piper Sandler boosted their price objective on shares of Revolve Group from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.19.

Insider Buying and Selling

In other news, CEO Michael Mente sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $31.43, for a total value of $6,286,000.00. Following the transaction, the chief executive officer now owns 73,000 shares in the company, valued at approximately $2,294,390. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Michael Mente sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $31.43, for a total value of $6,286,000.00. Following the transaction, the chief executive officer now owns 73,000 shares in the company, valued at approximately $2,294,390. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Mmmk Development, Inc. sold 6,493 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $25.92, for a total transaction of $168,298.56. The disclosure for this sale can be found here. Insiders have sold 344,946 shares of company stock valued at $10,075,314 over the last quarter. Corporate insiders own 46.56% of the company’s stock.

Hedge Funds Weigh In On Revolve Group

A number of hedge funds have recently modified their holdings of the company. Precision Wealth Strategies LLC boosted its position in shares of Revolve Group by 3.3% in the third quarter. Precision Wealth Strategies LLC now owns 12,741 shares of the company’s stock worth $316,000 after purchasing an additional 407 shares during the period. US Bancorp DE boosted its position in shares of Revolve Group by 1.8% during the first quarter. US Bancorp DE now owns 39,255 shares of the company’s stock worth $831,000 after acquiring an additional 677 shares during the last quarter. Farther Finance Advisors LLC boosted its position 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 worth $28,000 after acquiring an additional 804 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Revolve Group by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,498 shares of the company’s stock worth $561,000 after acquiring an additional 1,227 shares during the last quarter. Finally, Versor Investments LP boosted its position in shares of Revolve Group by 9.0% during the second quarter. Versor Investments LP now owns 16,953 shares of the company’s stock worth $270,000 after acquiring an additional 1,405 shares during the last quarter. 67.60% of the stock is currently owned by institutional investors.

Revolve Group Price Performance

The stock’s 50-day moving average is $24.47 and its two-hundred day moving average is $21.01. The stock has a market cap of $2.35 billion, a P/E ratio of 72.04, a price-to-earnings-growth 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.