Revolve Group, Inc. (NYSE:RVLV) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in Revolve Group, Inc. (NYSE:RVLV) by 83.4% in the third quarter, Holdings Channel.com reports. The firm owned 349,670 shares of the company’s stock after acquiring an additional 158,960 shares during the quarter. JPMorgan Chase & Co.’s holdings in Revolve Group were worth $8,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in RVLV. Bank of New York Mellon Corp lifted its position in Revolve Group by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 163,495 shares of the company’s stock valued at $2,601,000 after purchasing an additional 12,094 shares during the period. American Century Companies Inc. purchased a new position in Revolve Group in the second quarter valued at about $165,000. Federated Hermes Inc. increased its holdings in Revolve Group by 7.1% in the second quarter. Federated Hermes Inc. now owns 78,934 shares of the company’s stock valued at $1,256,000 after buying an additional 5,251 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Revolve Group by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 683,101 shares of the company’s stock valued at $10,867,000 after buying an additional 123,745 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Revolve Group in the second quarter valued at about $260,000. Institutional investors and hedge funds own 67.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of Revolve Group from $24.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. UBS Group increased their target price on shares of Revolve Group from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Roth Mkm reaffirmed a “buy” rating and issued a $35.00 target price (up from $29.00) on shares of Revolve Group in a report on Wednesday, November 6th. Piper Sandler raised their price objective on shares of Revolve Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, BTIG Research raised their price objective on shares of Revolve Group from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Revolve Group has a consensus rating of “Moderate Buy” and an average target price of $29.07.

Revolve Group Stock Performance

RVLV stock opened at $29.37 on Tuesday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 52.45, a PEG ratio of 2.34 and a beta of 2.18. Revolve Group, Inc. has a one year low of $13.96 and a one year high of $39.58. The company has a 50 day moving average price of $34.15 and a two-hundred day moving average price of $26.29.

Revolve Group (NYSE:RVLV) last released its 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. The firm had revenue of $283.15 million during the quarter, compared to analysts’ expectations of $271.08 million. Revolve Group had a net margin of 3.72% and a return on equity of 10.17%. Revolve Group’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 EPS. Research analysts forecast that Revolve Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Revolve Group news, major shareholder Mmmk Development, Inc. sold 33,164 shares of Revolve Group stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $26.26, for a total transaction of $870,886.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Mente sold 20,373 shares of Revolve Group stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $25.95, for a total transaction of $528,679.35. Following the transaction, the chief executive officer now directly owns 73,000 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 982,317 shares of company stock valued at $31,650,456. 46.56% of the stock is currently owned by company insiders.

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.