Westfield Capital Management Co. LP Sells 838,241 Shares of Revolve Group, Inc. (NYSE:RVLV)

Westfield Capital Management Co. LP trimmed its holdings in Revolve Group, Inc. (NYSE:RVLV - Free Report) by 40.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,250,972 shares of the company's stock after selling 838,241 shares during the quarter. Westfield Capital Management Co. LP owned 1.77% of Revolve Group worth $30,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RVLV. Comerica Bank lifted its stake in Revolve Group by 12,630.9% during the first quarter. Comerica Bank now owns 179,888 shares of the company's stock worth $3,808,000 after purchasing an additional 178,475 shares during the period. Silvercrest Asset Management Group LLC lifted its position in shares of Revolve Group by 55.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 376,620 shares of the company's stock worth $7,973,000 after buying an additional 134,775 shares during the period. XTX Topco Ltd boosted its stake in Revolve Group by 148.4% in the 2nd 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 in the last quarter. Harbor Capital Advisors Inc. grew its position in Revolve Group by 46.1% in the third quarter. Harbor Capital Advisors Inc. now owns 107,148 shares of the company's stock valued at $2,655,000 after acquiring an additional 33,812 shares during the period. Finally, Lisanti Capital Growth LLC bought a new stake in Revolve Group in the third quarter valued at $2,276,000. Institutional investors and hedge funds own 67.60% of the company's stock.

Revolve Group Trading Up 8.5 %

Shares of RVLV stock traded up $2.96 on Monday, hitting $37.99. The stock had a trading volume of 2,118,926 shares, compared to its average volume of 1,013,252. The firm has a market cap of $2.69 billion, a P/E ratio of 67.83, a PEG ratio of 2.21 and a beta of 2.05. Revolve Group, Inc. has a twelve month low of $13.24 and a twelve month high of $38.88. The company has a fifty day moving average price of $27.58 and a two-hundred day moving average price of $22.35.

Revolve Group (NYSE:RVLV - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.05. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. The company had revenue of $283.15 million for the quarter, compared to analyst estimates of $271.08 million. During the same quarter last year, the firm posted $0.04 earnings per share. Revolve Group's revenue was up 9.9% compared to the same quarter last year. On average, analysts expect that Revolve Group, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RVLV shares. Robert W. Baird lifted their target price 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. Roth Mkm restated a "buy" rating and set a $35.00 target price (up previously from $29.00) on shares of Revolve Group in a report on Wednesday, November 6th. Wedbush reaffirmed a "neutral" rating and issued a $19.00 price target on shares of Revolve Group in a report on Wednesday, August 7th. Piper Sandler increased their price objective on shares of Revolve Group from $30.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Finally, Evercore ISI boosted their target price on shares of Revolve Group from $21.00 to $33.00 and gave the stock an "in-line" rating in a research note on Wednesday, November 6th. One 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. Based on data from MarketBeat.com, Revolve Group currently has a consensus rating of "Hold" and a consensus price target of $26.19.

Insiders Place Their Bets

In other news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the business's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.92, for a total value of $168,298.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Mente sold 36,114 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $25.95, for a total value of $937,158.30. Following the transaction, the chief executive officer now directly owns 73,000 shares of the company's stock, valued at $1,894,350. This represents a 33.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 581,817 shares of company stock worth $17,870,621. Company insiders own 46.56% 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.