Franklin Resources Inc. Acquires 1,753 Shares of Revolve Group, Inc. (NYSE:RVLV)

Franklin Resources Inc. grew its stake in Revolve Group, Inc. (NYSE:RVLV) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,195 shares of the company’s stock after acquiring an additional 1,753 shares during the quarter. Franklin Resources Inc.’s holdings in Revolve Group were worth $699,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RVLV. Farther Finance Advisors LLC lifted its stake in Revolve Group by 249.7% in the third quarter. Farther Finance Advisors LLC now owns 1,126 shares of the company’s stock valued at $28,000 after buying an additional 804 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Revolve Group by 91.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,069 shares of the company’s stock valued at $65,000 after purchasing an additional 1,940 shares during the period. Quarry LP bought a new position in shares of Revolve Group during the 2nd quarter worth approximately $68,000. American Century Companies Inc. bought a new position in shares of Revolve Group in the second quarter valued at about $165,000. Finally, nVerses Capital LLC bought a new stake in shares of Revolve Group during the third quarter worth approximately $171,000. 67.60% of the stock is owned by institutional investors.

Revolve Group Stock Performance

Shares of RVLV opened at $33.58 on Monday. Revolve Group, Inc. has a 52 week low of $13.96 and a 52 week high of $39.58. The stock has a 50 day moving average price of $32.71 and a two-hundred day moving average price of $25.01. The firm has a market capitalization of $2.38 billion, a P/E ratio of 59.96, a P/E/G ratio of 2.34 and a beta of 2.19.

Revolve Group (NYSE:RVLV) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $283.15 million during the quarter, compared to analyst estimates of $271.08 million. Revolve Group had a net margin of 3.72% and a return on equity of 10.17%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. On average, equities analysts forecast that Revolve Group, Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Revolve Group

In other news, major shareholder Mmmk Development, Inc. sold 33,164 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $26.26, for a total transaction of $870,886.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Mente sold 90,266 shares of Revolve Group stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $35.80, for a total value of $3,231,522.80. Following the sale, the chief executive officer now owns 123,000 shares of the company’s stock, valued at approximately $4,403,400. This trade represents a 42.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 902,839 shares of company stock worth $29,112,870 over the last three months. 46.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on RVLV shares. Barclays upgraded shares of Revolve Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $17.00 to $25.00 in a research note on Wednesday, November 6th. Roth Mkm reissued a “buy” rating and issued a $35.00 price objective (up previously from $29.00) on shares of Revolve Group in a research note on Wednesday, November 6th. Piper Sandler raised their price objective on shares of Revolve Group from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. TD Cowen increased their price target on Revolve Group from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus increased their price target on Revolve Group from $35.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Revolve Group presently has a consensus rating of “Hold” and an average target price of $27.25.

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.