Algert Global LLC Sells 20,002 Shares of Revolve Group, Inc. (NYSE:RVLV)

Algert Global LLC reduced its holdings in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 18.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,375 shares of the company's stock after selling 20,002 shares during the period. Algert Global LLC owned 0.13% of Revolve Group worth $2,239,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in Revolve Group by 249.7% during the third quarter. Farther Finance Advisors LLC now owns 1,126 shares of the company's stock worth $28,000 after acquiring an additional 804 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Revolve Group by 91.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,069 shares of the company's stock valued at $65,000 after buying an additional 1,940 shares during the period. Quarry LP acquired a new stake in shares of Revolve Group in the 2nd quarter valued at about $68,000. American Century Companies Inc. bought a new stake in Revolve Group in the 2nd quarter valued at about $165,000. Finally, nVerses Capital LLC acquired a new position in Revolve Group during the 3rd quarter worth approximately $171,000. 67.60% of the stock is owned by institutional investors.

Revolve Group Stock Performance

RVLV traded down $1.87 during trading on Wednesday, reaching $36.93. The stock had a trading volume of 1,183,678 shares, compared to its average volume of 1,015,595. The business has a 50-day moving average of $27.87 and a 200-day moving average of $22.47. Revolve Group, Inc. has a one year low of $13.24 and a one year high of $39.03. The stock has a market cap of $2.61 billion, a PE ratio of 67.16, a PEG ratio of 2.40 and a beta of 2.05.

Revolve Group (NYSE:RVLV - Get Free Report) last issued its earnings results 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. The business had revenue of $283.15 million during the quarter, compared to analyst estimates of $271.08 million. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. Revolve Group's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Equities research analysts forecast that Revolve Group, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In related news, CEO Michael Mente sold 71,463 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 73,000 shares of the company's stock, valued at $2,569,600. This trade represents a 49.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jesse Timmermans sold 91,625 shares of Revolve Group stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $30.72, for a total value of $2,814,720.00. Following the completion of the sale, the chief financial officer now owns 3,054 shares in the company, valued at approximately $93,818.88. This represents a 96.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 581,817 shares of company stock valued at $17,870,621. Insiders own 46.56% of the company's stock.

Wall Street Analysts Forecast Growth

RVLV has been the topic of several research reports. Robert W. Baird raised their price objective on shares of Revolve Group from $24.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Piper Sandler boosted their price objective on Revolve Group from $30.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. BTIG Research raised their target price on Revolve Group from $30.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Morgan Stanley reaffirmed an "equal weight" rating and set a $26.00 target price (up previously from $17.00) on shares of Revolve Group in a research report on Monday, October 21st. Finally, Evercore ISI increased their price target on Revolve Group from $21.00 to $33.00 and gave the company an "in-line" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Revolve Group currently has a consensus rating of "Hold" and a consensus target price of $26.19.

Revolve Group Company 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.