HighTower Advisors LLC Sells 5,940 Shares of Revolve Group, Inc. $RVLV

HighTower Advisors LLC cut its stake in shares of Revolve Group, Inc. (NYSE:RVLV) by 31.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,842 shares of the company’s stock after selling 5,940 shares during the quarter. HighTower Advisors LLC’s holdings in Revolve Group were worth $276,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RVLV. CWM LLC lifted its holdings in shares of Revolve Group by 40.4% during the first quarter. CWM LLC now owns 2,905 shares of the company’s stock valued at $62,000 after acquiring an additional 836 shares during the period. Castlekeep Investment Advisors LLC bought a new position in shares of Revolve Group during the fourth quarter valued at $65,000. Wallace Advisory Group LLC bought a new position in shares of Revolve Group during the first quarter valued at $136,000. Neo Ivy Capital Management bought a new position in shares of Revolve Group during the fourth quarter valued at $156,000. Finally, First Trust Advisors LP bought a new position in shares of Revolve Group during the fourth quarter valued at $209,000. 67.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Roth Capital reissued a “buy” rating and set a $24.00 price objective (up from $19.00) on shares of Revolve Group in a report on Tuesday, August 5th. Morgan Stanley lifted their price objective on Revolve Group from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. KeyCorp lowered their target price on Revolve Group from $37.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. UBS Group restated a “neutral” rating and issued a $22.00 target price (up from $19.00) on shares of Revolve Group in a research note on Friday, July 25th. Finally, Piper Sandler raised their target price on Revolve Group from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Ten investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Revolve Group has a consensus rating of “Moderate Buy” and an average target price of $27.40.

Revolve Group Trading Down 4.0%

Revolve Group stock opened at $21.49 on Wednesday. The firm has a market capitalization of $1.53 billion, a P/E ratio of 34.65, a PEG ratio of 2.44 and a beta of 1.94. Revolve Group, Inc. has a 1 year low of $16.80 and a 1 year high of $39.58. The business has a 50-day moving average of $21.20 and a 200-day moving average of $21.58.

Revolve Group (NYSE:RVLV) last posted its earnings results on Tuesday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $308.97 million during the quarter, compared to analyst estimates of $297.91 million. Revolve Group had a return on equity of 10.17% and a net margin of 3.83%.The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. Research analysts anticipate that Revolve Group, Inc. will post 0.6 EPS for the current fiscal year.

Revolve Group 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.