Short Interest in Revolve Group, Inc. (NYSE:RVLV) Declines By 22.8%

Revolve Group, Inc. (NYSE:RVLV) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totalling 6,480,000 shares, a drop of 22.8% from the December 31st total of 8,390,000 shares. Based on an average trading volume of 1,030,000 shares, the days-to-cover ratio is currently 6.3 days.

Revolve Group Stock Up 4.7 %

NYSE RVLV opened at $31.38 on Friday. The stock’s 50-day moving average price is $33.57 and its 200-day moving average price is $27.48. Revolve Group has a 52 week low of $14.04 and a 52 week high of $39.58. The company has a market capitalization of $2.22 billion, a P/E ratio of 56.03, a price-to-earnings-growth ratio of 1.58 and a beta of 2.18.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on RVLV. Barclays raised Revolve Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $17.00 to $25.00 in a research report on Wednesday, November 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $26.00 price objective (up from $17.00) on shares of Revolve Group in a research report on Monday, October 21st. UBS Group increased their price objective on Revolve Group from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Evercore ISI increased their price objective on Revolve Group from $21.00 to $33.00 and gave the company an “in-line” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler increased their price objective on Revolve Group from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Revolve Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.60.

Insider Activity

In other news, CFO Jesse Timmermans sold 91,625 shares of the firm’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 transaction, the chief financial officer now directly owns 3,054 shares in the company, valued at $93,818.88. This trade represents a 96.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Mente sold 20,373 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $25.95, for a total value of $528,679.35. Following the sale, the chief executive officer now directly owns 73,000 shares in the company, valued at $1,894,350. This trade represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,012,182 shares of company stock worth $32,922,045 over the last three months. 46.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Revolve Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in Revolve Group during the 4th quarter valued at approximately $275,000. Dakota Wealth Management bought a new stake in Revolve Group in the 4th quarter worth approximately $211,000. Sugar Maple Asset Management LLC bought a new stake in Revolve Group in the 4th quarter worth approximately $50,000. JPMorgan Chase & Co. increased its stake in Revolve Group by 83.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 349,670 shares of the company’s stock worth $8,665,000 after acquiring an additional 158,960 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Revolve Group by 6.9% in the 3rd quarter. Franklin Resources Inc. now owns 27,195 shares of the company’s stock worth $699,000 after acquiring an additional 1,753 shares during the last quarter. Institutional investors own 67.60% of the company’s stock.

About Revolve Group

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.