Connor Clark & Lunn Investment Management Ltd. Lowers Position in Revolve Group, Inc. (NYSE:RVLV)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Revolve Group, Inc. (NYSE:RVLV) by 81.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,801 shares of the company’s stock after selling 60,319 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Revolve Group were worth $342,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Comerica Bank boosted its position in shares of 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 buying an additional 178,475 shares during the period. XTX Topco Ltd lifted its stake in Revolve Group by 148.4% during the 2nd quarter. XTX Topco Ltd now owns 39,586 shares of the company’s stock worth $630,000 after acquiring an additional 23,652 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Revolve Group by 46.1% during the 3rd 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. Lisanti Capital Growth LLC acquired a new position in Revolve Group in the 3rd quarter valued at about $2,276,000. Finally, Farther Finance Advisors LLC increased its stake in Revolve Group by 249.7% during the third quarter. Farther Finance Advisors LLC now owns 1,126 shares of the company’s stock worth $28,000 after purchasing an additional 804 shares during the period. Institutional investors and hedge funds own 67.60% of the company’s stock.

Revolve Group Trading Down 2.3 %

Shares of NYSE:RVLV opened at $36.08 on Friday. The firm has a 50 day simple moving average of $28.54 and a 200-day simple moving average of $22.77. Revolve Group, Inc. has a twelve month low of $13.24 and a twelve month high of $39.03. The company has a market capitalization of $2.55 billion, a PE ratio of 64.43, a P/E/G ratio of 2.33 and a beta of 2.05.

Revolve Group (NYSE:RVLV) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Revolve Group had a net margin of 3.72% and a return on equity of 10.17%. The firm had revenue of $283.15 million during the quarter, compared to analysts’ expectations of $271.08 million. During the same period in the previous year, the company earned $0.04 earnings per share. Revolve Group’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts predict that Revolve Group, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In other Revolve Group news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael Mente sold 71,463 shares of Revolve Group stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $35.20, for a total transaction of $2,515,497.60. Following the completion of the transaction, the chief executive officer now owns 73,000 shares in the company, valued at approximately $2,569,600. This represents a 49.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 581,817 shares of company stock valued at $17,870,621. Insiders own 46.56% of the company’s stock.

Analyst Upgrades and Downgrades

RVLV has been the subject of several recent research reports. BTIG Research raised their price objective on shares of Revolve Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Roth Mkm reiterated a “buy” rating and set a $35.00 target price (up from $29.00) on shares of Revolve Group in a report on Wednesday, November 6th. TD Cowen boosted their price target on shares of Revolve Group from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays upgraded Revolve Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $17.00 to $25.00 in a research note on Wednesday, November 6th. Finally, Piper Sandler boosted their target price on Revolve Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Revolve Group presently has an average rating of “Hold” and an average price target of $26.19.

Revolve Group 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.