Morgan Stanley Reaffirms "Equal Weight" Rating for Revolve Group (NYSE:RVLV)

Morgan Stanley reissued their equal weight rating on shares of Revolve Group (NYSE:RVLV - Free Report) in a report published on Monday morning, Benzinga reports. The brokerage currently has a $26.00 price objective on the stock, up from their prior price objective of $17.00.

A number of other research firms have also recently issued reports on RVLV. Piper Sandler reaffirmed an "overweight" rating and issued a $30.00 price target on shares of Revolve Group in a report on Friday, August 23rd. Wedbush restated a "neutral" rating and issued a $19.00 target price on shares of Revolve Group in a research note on Wednesday, August 7th. Evercore ISI boosted their price target on Revolve Group from $20.00 to $21.00 and gave the company an "in-line" rating in a research note on Wednesday, August 7th. Barclays increased their price objective on Revolve Group from $15.00 to $17.00 and gave the company an "underweight" rating in a report on Wednesday, October 2nd. Finally, TD Cowen lifted their target price on Revolve Group from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $22.06.

Revolve Group Stock Down 1.2 %

Shares of NYSE RVLV traded down $0.33 during trading hours on Monday, hitting $26.20. 574,325 shares of the stock were exchanged, compared to its average volume of 1,014,553. Revolve Group has a 12 month low of $12.42 and a 12 month high of $26.72. The firm has a fifty day moving average price of $23.98 and a 200-day moving average price of $20.50. The company has a market cap of $1.85 billion, a PE ratio of 77.00, a PEG ratio of 2.49 and a beta of 2.05.

Revolve Group (NYSE:RVLV - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.08. Revolve Group had a return on equity of 8.35% and a net margin of 3.08%. The business had revenue of $282.50 million during the quarter, compared to the consensus estimate of $277.06 million. During the same quarter last year, the company earned $0.10 earnings per share. The company's quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities analysts anticipate that Revolve Group will post 0.55 earnings per share for the current fiscal year.

Insider Activity at Revolve Group

In other news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.92, for a total transaction of $168,298.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael Mente sold 36,114 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer now owns 73,000 shares of the company's stock, valued at approximately $1,894,350. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Mmmk Development, Inc. sold 6,493 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.92, for a total transaction of $168,298.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,573 shares of company stock worth $3,260,634. 46.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RVLV. Comerica Bank increased its stake in Revolve Group by 12,630.9% during the 1st quarter. Comerica Bank now owns 179,888 shares of the company's stock worth $3,808,000 after buying an additional 178,475 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Revolve Group in the 1st quarter valued at $1,591,000. Susquehanna Fundamental Investments LLC acquired a new stake in Revolve Group during the 1st quarter worth $1,432,000. Silvercrest Asset Management Group LLC raised its position in shares of Revolve Group by 55.7% in 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 during the last quarter. Finally, XTX Topco Ltd raised its position in shares of Revolve Group by 148.4% in the second quarter. XTX Topco Ltd now owns 39,586 shares of the company's stock valued at $630,000 after buying an additional 23,652 shares during the last quarter. Institutional investors and hedge funds 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.