Westfield Capital Management Co. LP Cuts Stock Holdings in Revolve Group, Inc. (NYSE:RVLV)

Westfield Capital Management Co. LP lessened its stake in Revolve Group, Inc. (NYSE:RVLV) by 40.1% during the third quarter, Holdings Channel reports. The firm owned 1,250,972 shares of the company’s stock after selling 838,241 shares during the period. Westfield Capital Management Co. LP’s holdings in Revolve Group were worth $30,999,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Revolve Group by 4.9% during 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. Silvercrest Asset Management Group LLC lifted its position in Revolve Group by 55.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 376,620 shares of the company’s stock valued at $7,973,000 after buying an additional 134,775 shares in the last quarter. Comerica Bank lifted its position in 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 in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Revolve Group by 410.8% in the second quarter. Harbor Capital Advisors Inc. now owns 73,336 shares of the company’s stock worth $1,167,000 after acquiring an additional 58,979 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Revolve Group by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 163,495 shares of the company’s stock valued at $2,601,000 after acquiring an additional 12,094 shares during the period. 67.60% of the stock is owned by hedge funds and other institutional investors.

Revolve Group Price Performance

Shares of NYSE RVLV opened at $35.02 on Monday. The firm has a market capitalization of $2.48 billion, a PE ratio of 62.54, a P/E/G ratio of 2.21 and a beta of 2.05. Revolve Group, Inc. has a 1-year low of $13.24 and a 1-year high of $35.86. The business’s fifty day moving average price is $27.30 and its two-hundred day moving average price is $22.23.

Revolve Group (NYSE:RVLV) last posted its earnings results 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 analyst estimates 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 was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. Equities research analysts expect that Revolve Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Revolve Group

In related news, 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 transaction of $168,298.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Mente sold 71,463 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $35.20, for a total value of $2,515,497.60. Following the completion of the sale, the chief executive officer now directly owns 73,000 shares in the company, valued at $2,569,600. This represents a 49.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 581,817 shares of company stock worth $17,870,621 in the last three months. 46.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RVLV shares. Morgan Stanley restated an “equal weight” rating and issued a $26.00 target price (up from $17.00) on shares of Revolve Group in a research note on Monday, October 21st. Wedbush reaffirmed a “neutral” rating and set a $19.00 target price on shares of Revolve Group in a research report on Wednesday, August 7th. Roth Mkm reissued a “buy” rating and issued a $35.00 price target (up previously from $29.00) on shares of Revolve Group in a report on Wednesday, November 6th. UBS Group raised their price objective on Revolve Group from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler upped their target price on Revolve Group from $30.00 to $35.00 and gave the company an “overweight” rating in a research report 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 assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.19.

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.