Short Interest in Revolve Group, Inc. (NYSE:RVLV) Declines By 22.8%

Revolve Group, Inc. (NYSE:RVLV) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 6,480,000 shares, a drop of 22.8% from the December 31st total of 8,390,000 shares. Based on an average daily trading volume, of 1,030,000 shares, the days-to-cover ratio is currently 6.3 days.

Revolve Group Price Performance

Shares of RVLV opened at $31.38 on Friday. The firm has a market cap of $2.22 billion, a P/E ratio of 56.03, a P/E/G ratio of 1.58 and a beta of 2.18. Revolve Group has a 1 year low of $14.04 and a 1 year high of $39.58. The stock has a 50 day simple moving average of $33.57 and a two-hundred day simple moving average of $27.48.

Revolve Group (NYSE:RVLV) last released its quarterly earnings data 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. The firm had revenue of $283.15 million during the quarter, compared to analyst estimates of $271.08 million. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 earnings per share. On average, equities analysts anticipate that Revolve Group will post 0.6 earnings per share for the current year.

Insider Transactions at Revolve Group

In related news, CEO Michael Mente sold 20,373 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $25.95, for a total value of $528,679.35. Following the transaction, the chief executive officer now directly owns 73,000 shares in the company, valued at $1,894,350. This trade represents a 21.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jesse Timmermans sold 91,625 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $30.72, for a total value of $2,814,720.00. Following the completion of the transaction, the chief financial officer now owns 3,054 shares in the company, valued at approximately $93,818.88. This represents a 96.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,012,182 shares of company stock valued at $32,922,045 in the last quarter. 46.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Revolve Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in Revolve Group by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 683,101 shares of the company’s stock worth $10,867,000 after purchasing an additional 123,745 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Revolve Group by 83.4% in the third quarter. JPMorgan Chase & Co. now owns 349,670 shares of the company’s stock worth $8,665,000 after purchasing an additional 158,960 shares in the last quarter. Millennium Management LLC raised its holdings in Revolve Group by 68.1% in the second quarter. Millennium Management LLC now owns 342,084 shares of the company’s stock worth $5,443,000 after purchasing an additional 138,600 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Revolve Group by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 315,213 shares of the company’s stock worth $7,811,000 after purchasing an additional 2,963 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Revolve Group by 14.1% in the second quarter. Sei Investments Co. now owns 176,593 shares of the company’s stock worth $2,810,000 after purchasing an additional 21,821 shares in the last quarter. Institutional investors own 67.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on RVLV. UBS Group raised their target price on Revolve Group from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Robert W. Baird raised their target price on Revolve Group from $24.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $26.00 target price (up from $17.00) on shares of Revolve Group in a research report on Monday, October 21st. Barclays raised Revolve Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $17.00 to $25.00 in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus raised their target price on Revolve Group from $35.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Revolve Group presently has a consensus rating of “Moderate Buy” and an average price target of $29.60.

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.