Revolve Group (NYSE:RVLV) Shares Gap Up – Here’s Why

Revolve Group, Inc. (NYSE:RVLV)’s share price gapped up before the market opened on Friday . The stock had previously closed at $21.26, but opened at $22.57. Revolve Group shares last traded at $22.37, with a volume of 259,662 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised Revolve Group from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Friday. Roth Mkm reiterated a “buy” rating and set a $36.00 price target (up from $35.00) on shares of Revolve Group in a report on Wednesday, February 26th. KeyCorp upgraded shares of Revolve Group from a “sector weight” rating to an “overweight” rating and set a $37.00 target price for the company in a research note on Thursday, January 23rd. Barclays increased their price target on shares of Revolve Group from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Finally, BMO Capital Markets boosted their price objective on shares of Revolve Group from $15.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Revolve Group presently has a consensus rating of “Moderate Buy” and an average price target of $30.53.

Revolve Group Stock Performance

The company’s 50 day moving average price is $29.33 and its 200 day moving average price is $29.16. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 40.37, a P/E/G ratio of 1.48 and a beta of 2.25.

Insiders Place Their Bets

In related news, CEO Michael Mente sold 62,441 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $34.20, for a total value of $2,135,482.20. Following the completion of the transaction, the chief executive officer now owns 73,000 shares in the company, valued at $2,496,600. The trade was a 46.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Karanikolas sold 12,566 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $25.94, for a total value of $325,962.04. Following the transaction, the chief executive officer now directly owns 123,000 shares in the company, valued at $3,190,620. This trade represents a 9.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 511,649 shares of company stock valued at $16,027,128. 46.56% of the stock is currently owned by insiders.

Institutional Trading of Revolve Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in shares of Revolve Group by 249.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,126 shares of the company’s stock worth $28,000 after buying an additional 804 shares during the period. Venturi Wealth Management LLC raised its position in shares of Revolve Group by 1,302.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,346 shares of the company’s stock valued at $45,000 after acquiring an additional 1,250 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of Revolve Group in the 4th quarter valued at $50,000. Castlekeep Investment Advisors LLC bought a new position in Revolve Group during the fourth quarter worth about $65,000. Finally, Northwest & Ethical Investments L.P. bought a new position in Revolve Group during the 4th quarter worth approximately $87,000. 67.60% of the stock is owned by institutional investors.

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.