Revolve Group, Inc. (NYSE:RVLV – Get Rating) shares gapped down prior to trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $29.00 to $24.00. The stock had previously closed at $20.01, but opened at $17.02. Revolve Group shares last traded at $18.71, with a volume of 546,472 shares trading hands.
Other research analysts also recently issued research reports about the stock. Raymond James downgraded shares of Revolve Group from an “outperform” rating to a “market perform” rating in a research note on Thursday. Piper Sandler downgraded shares of Revolve Group from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $34.00 to $28.00 in a research note on Thursday, January 5th. Robert W. Baird reduced their price target on shares of Revolve Group from $33.00 to $25.00 in a research note on Thursday. Credit Suisse Group raised their price target on shares of Revolve Group from $30.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Finally, Wedbush reduced their price target on shares of Revolve Group from $27.00 to $19.00 in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.06.
Institutional Trading of Revolve Group
A number of institutional investors have recently modified their holdings of RVLV. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Revolve Group by 1,205.3% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,148,406 shares of the company’s stock valued at $155,049,000 after buying an additional 6,600,778 shares in the last quarter. Balyasny Asset Management LLC acquired a new stake in Revolve Group in the 3rd quarter worth approximately $11,277,000. Renaissance Technologies LLC boosted its stake in Revolve Group by 40.4% in the 3rd quarter. Renaissance Technologies LLC now owns 1,804,500 shares of the company’s stock worth $39,140,000 after purchasing an additional 519,400 shares in the last quarter. Marshall Wace LLP boosted its stake in Revolve Group by 35.6% in the 4th quarter. Marshall Wace LLP now owns 1,838,351 shares of the company’s stock worth $40,922,000 after purchasing an additional 482,785 shares in the last quarter. Finally, Goodman Financial Corp acquired a new stake in Revolve Group in the 4th quarter worth approximately $9,060,000. 71.64% of the stock is currently owned by institutional investors.
Revolve Group Stock Down 7.5 %
Revolve Group (NYSE:RVLV – Get Rating) last released its earnings results on Wednesday, May 3rd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $290.14 million. Revolve Group had a net margin of 5.33% and a return on equity of 16.26%. Revolve Group’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. Sell-side analysts anticipate that Revolve Group, Inc. will post 0.79 earnings per share for the current year.
About Revolve Group
Revolve Group, Inc engages in the retail of next-generation fashion for millennial and generation Z consumers. It operates through the Revolve and Forward (FWRD) segments. The Revolve segment offers constant newness and discovery through a broad assortment of premium apparel, footwear, accessories and beauty products.
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