Revolve Group (NYSE:RVLV) Shares Gap Up - Here's Why

Revolve Group, Inc. (NYSE:RVLV - Get Free Report)'s stock price gapped up prior to trading 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 trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on RVLV shares. Roth Mkm restated a "buy" rating and issued a $36.00 price objective (up previously from $35.00) on shares of Revolve Group in a research note on Wednesday, February 26th. Barclays increased their price target on Revolve Group from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. KeyCorp upgraded Revolve Group from a "sector weight" rating to an "overweight" rating and set a $37.00 price target for the company in a research note on Thursday, January 23rd. Jefferies Financial Group upgraded Revolve Group from a "hold" rating to a "buy" rating and set a $30.00 price target for the company in a research note on Friday. Finally, Stifel Nicolaus cut their price target on Revolve Group from $41.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $30.53.

Revolve Group Trading Down 2.9 %

The firm has a fifty day simple moving average of $28.50 and a two-hundred day simple moving average of $29.16. The stock has a market cap of $1.55 billion, a PE ratio of 38.79, a PEG ratio of 1.48 and a beta of 2.25.

Remove Ads

Insider Activity at Revolve Group

In related news, CEO Michael Mente sold 62,441 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.20, for a total transaction of $2,135,482.20. Following the transaction, the chief executive officer now directly owns 73,000 shares of the company's stock, valued at approximately $2,496,600. This trade represents a 46.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Karanikolas sold 12,566 shares of the firm's stock in a transaction dated 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 approximately $3,190,620. This represents a 9.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 511,649 shares of company stock valued at $16,027,128. Corporate insiders own 46.56% of the company's stock.

Institutional Trading of Revolve Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in Revolve Group by 0.7% in the fourth quarter. FMR LLC now owns 5,743,151 shares of the company's stock valued at $192,338,000 after purchasing an additional 38,694 shares during the last quarter. Vanguard Group Inc. lifted its position in Revolve Group by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 3,832,207 shares of the company's stock valued at $128,341,000 after purchasing an additional 65,602 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in Revolve Group by 596.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 795,607 shares of the company's stock valued at $26,645,000 after purchasing an additional 681,451 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Revolve Group during the fourth quarter valued at approximately $14,531,000. Finally, Wells Fargo & Company MN increased its stake in shares of Revolve Group by 1.2% during the fourth quarter. Wells Fargo & Company MN now owns 411,738 shares of the company's stock valued at $13,789,000 after buying an additional 4,946 shares during the period. Institutional investors own 67.60% of the company's stock.

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.