Millennium Management LLC Boosts Position in Revolve Group, Inc. (NYSE:RVLV)

Millennium Management LLC grew its holdings in shares of Revolve Group, Inc. (NYSE:RVLV) by 68.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 342,084 shares of the company’s stock after buying an additional 138,600 shares during the period. Millennium Management LLC owned 0.48% of Revolve Group worth $5,443,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RVLV. Allspring Global Investments Holdings LLC increased its stake in shares of Revolve Group by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 825,606 shares of the company’s stock valued at $17,478,000 after buying an additional 10,724 shares during the period. Norden Group LLC boosted its position in shares of Revolve Group by 2,269.6% during the first quarter. Norden Group LLC now owns 367,200 shares of the company’s stock valued at $7,774,000 after purchasing an additional 351,704 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Revolve Group during the first quarter valued at approximately $45,000. Capstone Investment Advisors LLC bought a new stake in shares of Revolve Group during the first quarter valued at approximately $1,591,000. Finally, Essex Investment Management Co. LLC boosted its position in shares of Revolve Group by 0.7% during the first quarter. Essex Investment Management Co. LLC now owns 115,035 shares of the company’s stock valued at $2,435,000 after purchasing an additional 767 shares in the last quarter. 67.60% of the stock is owned by hedge funds and other institutional investors.

Revolve Group Stock Performance

Revolve Group stock opened at $25.35 on Friday. The stock has a market cap of $1.79 billion, a PE ratio of 56.33, a price-to-earnings-growth ratio of 2.37 and a beta of 2.05. Revolve Group, Inc. has a one year low of $12.42 and a one year high of $26.14. The stock has a fifty day moving average of $23.45 and a 200 day moving average of $20.31.

Revolve Group (NYSE:RVLV) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The company had revenue of $282.50 million during the quarter, compared to analysts’ expectations of $277.06 million. Revolve Group had a return on equity of 8.35% and a net margin of 3.08%. Revolve Group’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, sell-side analysts predict that Revolve Group, Inc. will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RVLV shares. Evercore ISI lifted their price target on Revolve Group from $20.00 to $21.00 and gave the company an “in-line” rating in a research report on Wednesday, August 7th. TD Cowen lifted their price target on Revolve Group from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, August 26th. BTIG Research boosted their target price on Revolve Group from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Wedbush reissued a “neutral” rating and issued a $19.00 target price on shares of Revolve Group in a report on Wednesday, August 7th. Finally, Barclays boosted their target price on Revolve Group from $15.00 to $17.00 and gave the stock an “underweight” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.63.

Insider Activity at Revolve Group

In other Revolve Group news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the company’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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 46.56% of the stock is owned by company insiders.

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.