Oppenheimer Asset Management Inc. Decreases Stock Position in Revolve Group, Inc. (NYSE:RVLV)

Oppenheimer Asset Management Inc. lowered its position in Revolve Group, Inc. (NYSE:RVLV) by 15.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,207 shares of the company’s stock after selling 2,865 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Revolve Group were worth $377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its stake in shares of Revolve Group by 141.2% in the second quarter. Marshall Wace LLP now owns 478,623 shares of the company’s stock worth $7,615,000 after acquiring an additional 280,151 shares in the last quarter. Comerica Bank boosted its stake in shares of Revolve Group by 12,630.9% during the 1st quarter. Comerica Bank now owns 179,888 shares of the company’s stock valued at $3,808,000 after buying an additional 178,475 shares during the last quarter. Millennium Management LLC grew its position in shares of Revolve Group by 68.1% during the second quarter. Millennium Management LLC now owns 342,084 shares of the company’s stock worth $5,443,000 after buying an additional 138,600 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of Revolve Group by 55.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 376,620 shares of the company’s stock worth $7,973,000 after buying an additional 134,775 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 123,745 shares in the last quarter. 67.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Jesse Timmermans sold 91,625 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.72, for a total transaction of $2,814,720.00. Following the completion of the sale, the chief financial officer now directly owns 3,054 shares of the company’s stock, valued at $93,818.88. This represents a 96.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Mmmk Development, Inc. sold 6,493 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.92, for a total value of $168,298.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 436,571 shares of company stock worth $12,890,034. 46.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $26.00 target price (up previously from $17.00) on shares of Revolve Group in a research report on Monday, October 21st. Evercore ISI boosted their price objective on Revolve Group from $21.00 to $33.00 and gave the company an “in-line” rating in a report on Wednesday, November 6th. BTIG Research increased their target price on Revolve Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Roth Mkm reiterated a “buy” rating and issued a $35.00 price target (up from $29.00) on shares of Revolve Group in a report on Wednesday, November 6th. Finally, Robert W. Baird raised their price objective on Revolve Group from $24.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.19.

Revolve Group Trading Up 2.6 %

Revolve Group stock opened at $33.20 on Wednesday. Revolve Group, Inc. has a 52 week low of $13.24 and a 52 week high of $35.20. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 59.29, a PEG ratio of 2.08 and a beta of 2.05. The company’s 50-day moving average price is $26.65 and its two-hundred day moving average price is $21.95.

Revolve Group (NYSE:RVLV) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $283.15 million for 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 business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share. Research analysts expect that Revolve Group, Inc. will post 0.6 earnings per share 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. 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.