Revolve Group, Inc. (NYSE:RVLV) Sees Large Drop in Short Interest

Revolve Group, Inc. (NYSE:RVLV) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 8,260,000 shares, a drop of 15.5% from the October 31st total of 9,780,000 shares. Based on an average daily volume of 958,800 shares, the short-interest ratio is currently 8.6 days.

Insiders Place Their Bets

In other news, CEO Michael Mente sold 36,114 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $25.95, for a total value of $937,158.30. Following the transaction, the chief executive officer now owns 73,000 shares of the company’s stock, valued at $1,894,350. This trade represents a 33.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Mmmk Development, Inc. sold 6,493 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was 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. Over the last three months, insiders have sold 581,817 shares of company stock valued at $17,870,621. Insiders own 46.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP boosted 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 valued at $7,615,000 after purchasing an additional 280,151 shares during the period. Comerica Bank grew its stake in shares of Revolve Group by 12,630.9% during the first quarter. Comerica Bank now owns 179,888 shares of the company’s stock valued at $3,808,000 after acquiring an additional 178,475 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Revolve Group during the third quarter worth about $3,982,000. Millennium Management LLC lifted its stake in shares of Revolve Group by 68.1% in the second quarter. Millennium Management LLC now owns 342,084 shares of the company’s stock worth $5,443,000 after acquiring an additional 138,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Revolve Group by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 683,101 shares of the company’s stock valued at $10,867,000 after purchasing an additional 123,745 shares in the last quarter. 67.60% of the stock is owned by institutional investors and hedge funds.

Revolve Group Trading Down 2.3 %

NYSE:RVLV opened at $36.08 on Monday. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 64.43, a price-to-earnings-growth ratio of 2.28 and a beta of 2.05. Revolve Group has a 12-month low of $13.24 and a 12-month high of $39.03. The company’s 50-day moving average is $28.54 and its two-hundred day moving average is $22.77.

Revolve Group (NYSE:RVLV) last released its earnings results 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 return on equity of 10.17% and a net margin of 3.72%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 earnings per share. On average, equities research analysts forecast that Revolve Group will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

RVLV has been the subject of a number of research reports. Barclays upgraded Revolve Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $17.00 to $25.00 in a report on Wednesday, November 6th. Robert W. Baird increased their price target on Revolve Group from $24.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Piper Sandler increased their target price on shares of Revolve Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. UBS Group raised their target price on shares of Revolve Group from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $26.00 price objective (up from $17.00) on shares of Revolve Group in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.19.

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.