Quest Partners LLC Trims Position in Revolve Group, Inc. (NYSE:RVLV)

Quest Partners LLC lowered its position in shares of Revolve Group, Inc. (NYSE:RVLV) by 70.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,139 shares of the company’s stock after selling 12,060 shares during the quarter. Quest Partners LLC’s holdings in Revolve Group were worth $127,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RVLV. Comerica Bank boosted its holdings 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 worth $3,808,000 after purchasing an additional 178,475 shares during the last quarter. XTX Topco Ltd grew its holdings in Revolve Group by 148.4% in the 2nd quarter. XTX Topco Ltd now owns 39,586 shares of the company’s stock valued at $630,000 after buying an additional 23,652 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Revolve Group by 46.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 107,148 shares of the company’s stock valued at $2,655,000 after acquiring an additional 33,812 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in shares of Revolve Group during the 3rd quarter worth about $2,276,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Revolve Group by 249.7% in the third quarter. Farther Finance Advisors LLC now owns 1,126 shares of the company’s stock worth $28,000 after acquiring an additional 804 shares during the last quarter. 67.60% of the stock is owned by hedge funds and other institutional investors.

Revolve Group Price Performance

Shares of RVLV stock opened at $36.93 on Friday. The company’s fifty day moving average price is $28.10 and its two-hundred day moving average price is $22.57. The firm has a market capitalization of $2.61 billion, a P/E ratio of 65.95, a P/E/G ratio of 2.40 and a beta of 2.05. Revolve Group, Inc. has a 12 month low of $13.24 and a 12 month high of $39.03.

Revolve Group (NYSE:RVLV) last released its quarterly earnings results 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 business had revenue of $283.15 million for the quarter, compared to analysts’ expectations of $271.08 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Revolve Group, Inc. will post 0.6 EPS for the current year.

Insider Activity

In related news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.92, for a total transaction of $168,298.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Mente sold 71,463 shares of Revolve Group stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.20, for a total transaction of $2,515,497.60. Following the completion of the transaction, the chief executive officer now directly owns 73,000 shares of the company’s stock, valued at approximately $2,569,600. This represents a 49.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 581,817 shares of company stock worth $17,870,621. 46.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler upped their price target on shares of Revolve Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their target price on Revolve Group from $24.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Evercore ISI boosted their price target 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. Wedbush restated a “neutral” rating and issued a $19.00 price objective on shares of Revolve Group in a report on Wednesday, August 7th. Finally, BTIG Research boosted 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Revolve Group has an average rating of “Hold” and a consensus target price 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.