Holocene Advisors LP Sells 7,548 Shares of Revolve Group, Inc. (NYSE:RVLV)

Holocene Advisors LP cut its holdings in shares of Revolve Group, Inc. (NYSE:RVLV) by 26.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,300 shares of the company’s stock after selling 7,548 shares during the quarter. Holocene Advisors LP’s holdings in Revolve Group were worth $528,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased 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 worth $10,867,000 after acquiring an additional 123,745 shares during the period. Marshall Wace LLP grew its holdings in shares of Revolve Group by 141.2% during the 2nd quarter. Marshall Wace LLP now owns 478,623 shares of the company’s stock worth $7,615,000 after purchasing an additional 280,151 shares in the last quarter. Millennium Management LLC increased its position 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 purchasing an additional 138,600 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Revolve Group by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 315,213 shares of the company’s stock valued at $7,811,000 after purchasing an additional 2,963 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Revolve Group by 14.1% during the second quarter. Sei Investments Co. now owns 176,593 shares of the company’s stock worth $2,810,000 after purchasing an additional 21,821 shares during the period. 67.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RVLV. Barclays upgraded shares of Revolve Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $17.00 to $25.00 in a research report on Wednesday, November 6th. TD Cowen upped their target price on Revolve Group from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Piper Sandler raised their target price on Revolve Group from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Morgan Stanley reissued an “equal weight” rating and set a $26.00 price target (up previously from $17.00) on shares of Revolve Group in a report on Monday, October 21st. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $35.00 price objective (up from $29.00) on shares of Revolve Group in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Revolve Group currently has an average rating of “Hold” and an average price target of $26.19.

Revolve Group Stock Performance

Shares of NYSE RVLV opened at $37.17 on Friday. The firm has a 50 day moving average price of $29.62 and a two-hundred day moving average price of $23.27. The stock has a market cap of $2.63 billion, a P/E ratio of 66.38, a price-to-earnings-growth ratio of 2.25 and a beta of 2.19. Revolve Group, Inc. has a 52-week low of $13.76 and a 52-week high of $39.03.

Revolve Group (NYSE:RVLV) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $283.15 million during the quarter, compared to the consensus estimate of $271.08 million. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. Revolve Group’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. Analysts predict that Revolve Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Revolve Group

In other Revolve Group news, major shareholder Mmmk Development, Inc. sold 33,164 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $26.26, for a total transaction of $870,886.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Mente sold 36,114 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $25.95, for a total value of $937,158.30. Following the completion of the transaction, the chief executive officer now directly owns 73,000 shares in the company, valued at $1,894,350. This represents a 33.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 770,512 shares of company stock worth $24,534,363 over the last ninety days. 46.56% of the stock is owned by insiders.

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.