Revolve Group (NYSE:RVLV) Shares Gap Down Following Analyst Downgrade

Revolve Group, Inc. (NYSE:RVLV) shares gapped down before the market opened on Wednesday after Stifel Nicolaus lowered their price target on the stock from $41.00 to $40.00. The stock had previously closed at $28.32, but opened at $27.21. Stifel Nicolaus currently has a buy rating on the stock. Revolve Group shares last traded at $25.99, with a volume of 579,894 shares changing hands.

Other equities research analysts have also recently issued research reports about the company. UBS Group increased their price objective on Revolve Group from $25.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. TD Cowen raised their price target on Revolve Group from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price target on shares of Revolve Group from $24.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Barclays upped their price objective on shares of Revolve Group from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Piper Sandler lifted their target price on shares of Revolve Group from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Revolve Group has a consensus rating of “Moderate Buy” and a consensus target price of $29.87.

Insider Transactions at Revolve Group

In other news, CEO Michael Mente sold 67,118 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $30.91, for a total transaction of $2,074,617.38. Following the sale, the chief executive officer now owns 73,000 shares in the company, valued at $2,256,430. This represents a 47.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 687,778 shares of company stock valued at $22,364,908. Insiders own 46.56% of the company’s stock.

Hedge Funds Weigh In On Revolve Group

A number of hedge funds have recently added to or reduced their stakes in RVLV. Castlekeep Investment Advisors LLC bought a new stake in shares of Revolve Group in the 4th quarter worth $65,000. Neo Ivy Capital Management purchased a new stake in shares of Revolve Group during the fourth quarter valued at $156,000. Castleark Management LLC bought a new stake in Revolve Group in the 4th quarter worth about $4,488,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Revolve Group by 25.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,920 shares of the company’s stock worth $3,313,000 after buying an additional 19,965 shares during the last quarter. Finally, Woodline Partners LP bought a new position in Revolve Group during the 4th quarter valued at about $6,477,000. 67.60% of the stock is currently owned by hedge funds and other institutional investors.

Revolve Group Trading Down 7.9 %

The company’s 50 day simple moving average is $31.28 and its 200-day simple moving average is $29.08. The firm has a market cap of $1.85 billion, a P/E ratio of 46.31, a PEG ratio of 1.48 and a beta of 2.17.

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.