Franklin Resources Inc. Buys 1,753 Shares of Revolve Group, Inc. (NYSE:RVLV)

Franklin Resources Inc. lifted its position in shares of Revolve Group, Inc. (NYSE:RVLV) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,195 shares of the company’s stock after purchasing an additional 1,753 shares during the period. Franklin Resources Inc.’s holdings in Revolve Group were worth $699,000 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 RVLV. Marshall Wace LLP boosted 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 valued at $7,615,000 after buying an additional 280,151 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in Revolve Group in the 3rd quarter worth about $3,982,000. Millennium Management LLC boosted its holdings in 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 last quarter. Dimensional Fund Advisors LP increased its position in Revolve Group by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 683,101 shares of the company’s stock valued at $10,867,000 after acquiring an additional 123,745 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Revolve Group in the third quarter worth approximately $2,276,000. Institutional investors own 67.60% of the company’s stock.

Insider Buying and Selling at Revolve Group

In related news, CEO Michael Mente sold 36,114 shares of the firm’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 transaction, the chief executive officer now directly owns 73,000 shares of the company’s stock, valued at approximately $1,894,350. This trade represents a 33.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Mmmk Development, Inc. sold 33,164 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $26.26, for a total value of $870,886.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 902,839 shares of company stock valued at $29,112,870. 46.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RVLV has been the topic of several recent research reports. Evercore ISI raised their price objective on Revolve Group from $21.00 to $33.00 and gave the stock an “in-line” rating in a research note on Wednesday, November 6th. Roth Mkm reaffirmed a “buy” rating and set a $35.00 price target (up previously from $29.00) on shares of Revolve Group in a research note on Wednesday, November 6th. BTIG Research raised their price target on Revolve Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird raised their price target on Revolve Group from $24.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, TD Cowen lifted their price target on shares of Revolve Group from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.25.

Revolve Group Price Performance

Revolve Group stock opened at $33.58 on Monday. The business has a fifty day moving average price of $32.71 and a 200-day moving average price of $25.01. Revolve Group, Inc. has a 1-year low of $13.96 and a 1-year high of $39.58. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 59.96, a PEG ratio of 2.34 and a beta of 2.19.

Revolve Group (NYSE:RVLV) last issued its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. The company had revenue of $283.15 million during the quarter, compared to analyst estimates of $271.08 million. During the same quarter last year, the business posted $0.04 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts anticipate that Revolve Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Revolve Group 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.