Revolve Group, Inc. (NYSE:RVLV) Short Interest Update

Revolve Group, Inc. (NYSE:RVLV) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 8,260,000 shares, a drop of 15.5% from the October 31st total of 9,780,000 shares. Based on an average trading volume of 958,800 shares, the days-to-cover ratio is currently 8.6 days.

Revolve Group Stock Down 2.3 %

RVLV stock opened at $36.08 on Monday. The company has a 50 day moving average of $28.54 and a two-hundred day moving average of $22.77. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 64.43, a PEG ratio of 2.28 and a beta of 2.05. Revolve Group 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 data on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.17% and a net margin of 3.72%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. On average, research analysts anticipate that Revolve Group will post 0.6 EPS for the current year.

Insider Transactions at Revolve Group

In other Revolve Group news, CEO Michael Mente sold 36,114 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $25.95, for a total value of $937,158.30. Following the sale, the chief executive officer now owns 73,000 shares in the company, valued at approximately $1,894,350. This trade represents a 33.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Mmmk Development, Inc. sold 6,493 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.92, for a total value of $168,298.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 581,817 shares of company stock worth $17,870,621. 46.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Revolve Group by 4.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,498 shares of the company’s stock worth $561,000 after acquiring an additional 1,227 shares during the last quarter. Comerica Bank raised its position 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 valued at $3,808,000 after buying an additional 178,475 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Revolve Group by 410.8% during the second quarter. Harbor Capital Advisors Inc. now owns 73,336 shares of the company’s stock valued at $1,167,000 after buying an additional 58,979 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of 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 buying an additional 12,094 shares during the period. Finally, BloombergSen Inc. grew its position in Revolve Group by 21.6% during the second quarter. BloombergSen Inc. now owns 25,335 shares of the company’s stock worth $403,000 after buying an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 67.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RVLV shares. Piper Sandler lifted their price objective on shares of Revolve Group from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. TD Cowen boosted their target price on Revolve Group from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Robert W. Baird upped their target price on Revolve Group from $24.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Morgan Stanley reiterated an “equal weight” rating and set a $26.00 price target (up from $17.00) on shares of Revolve Group in a research report on Monday, October 21st. Finally, BTIG Research raised their target price on Revolve Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One 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. Based on data from MarketBeat.com, Revolve Group presently has a consensus rating of “Hold” and an average price target of $26.19.

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.