Michael Mente Sells 66,413 Shares of Revolve Group, Inc. (NYSE:RVLV) Stock

Revolve Group, Inc. (NYSE:RVLV) CEO Michael Mente sold 66,413 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $30.48, for a total transaction of $2,024,268.24. Following the transaction, the chief executive officer now owns 73,000 shares of the company’s stock, valued at $2,225,040. This represents a 47.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Michael Mente also recently made the following trade(s):

• On Monday, January 27th, Michael Mente sold 44,962 shares of Revolve Group stock. The shares were sold at an average price of $30.93, for a total transaction of $1,390,674.66.
• On Friday, January 10th, Michael Mente sold 69,605 shares of Revolve Group stock. The stock was sold at an average price of $29.77, for a total transaction of $2,072,140.85.
• On Wednesday, January 8th, Michael Mente sold 45,987 shares of Revolve Group stock. The stock was sold at an average price of $30.50, for a total transaction of $1,402,603.50.
• On Friday, December 20th, Michael Mente sold 62,441 shares of Revolve Group stock. The stock was sold at an average price of $34.20, for a total value of $2,135,482.20.
• On Wednesday, December 18th, Michael Mente sold 76,835 shares of Revolve Group stock. The shares were sold at an average price of $34.14, for a total value of $2,623,146.90.
• On Wednesday, December 4th, Michael Mente sold 98,429 shares of Revolve Group stock. The stock was sold at an average price of $34.87, for a total value of $3,432,219.23.
• On Monday, December 2nd, Michael Mente sold 90,266 shares of Revolve Group stock. The shares were sold at an average price of $35.80, for a total value of $3,231,522.80.
• On Friday, November 22nd, Michael Mente sold 71,463 shares of Revolve Group stock. The stock was sold at an average price of $35.20, for a total value of $2,515,497.60.
• On Wednesday, November 20th, Michael Mente sold 73,783 shares of Revolve Group stock. The shares were sold at an average price of $33.41, for a total value of $2,465,090.03.
• On Wednesday, November 6th, Michael Mente sold 200,000 shares of Revolve Group stock. The stock was sold at an average price of $31.43, for a total value of $6,286,000.00.

Revolve Group Stock Performance

Revolve Group stock traded down $1.17 during mid-day trading on Wednesday, reaching $30.07. 936,140 shares of the company were exchanged, compared to its average volume of 1,114,752. The business has a fifty day moving average of $33.64 and a 200 day moving average of $27.45. The firm has a market cap of $2.13 billion, a P/E ratio of 53.69, a PEG ratio of 1.58 and a beta of 2.18. Revolve Group, Inc. has a 12-month low of $14.04 and a 12-month high of $39.58.

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

Analyst Upgrades and Downgrades

RVLV has been the subject of several recent research reports. 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 research note on Wednesday, November 6th. Robert W. Baird boosted their price objective on Revolve Group from $24.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Piper Sandler boosted their price objective on Revolve Group from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Barclays raised Revolve Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $17.00 to $25.00 in a research report on Wednesday, November 6th. Finally, KeyCorp raised Revolve Group from a “sector weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP increased its stake in shares of Revolve Group by 141.2% in the 2nd quarter. Marshall Wace LLP now owns 478,623 shares of the company’s stock worth $7,615,000 after acquiring an additional 280,151 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Revolve Group in the 3rd quarter valued at about $3,982,000. JPMorgan Chase & Co. boosted its stake in shares of Revolve Group by 83.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 349,670 shares of the company’s stock valued at $8,665,000 after buying an additional 158,960 shares during the period. Millennium Management LLC boosted its stake in shares of Revolve Group by 68.1% in the 2nd quarter. Millennium Management LLC now owns 342,084 shares of the company’s stock valued at $5,443,000 after buying an additional 138,600 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Revolve Group by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 683,101 shares of the company’s stock worth $10,867,000 after purchasing an additional 123,745 shares during the last quarter. Hedge funds and other institutional investors own 67.60% of the company’s stock.

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.