Penserra Capital Management LLC Sells 39,348 Shares of Revolve Group, Inc. (NYSE:RVLV)

Penserra Capital Management LLC lowered its stake in Revolve Group, Inc. (NYSE:RVLV) by 18.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 170,516 shares of the company’s stock after selling 39,348 shares during the quarter. Penserra Capital Management LLC’s holdings in Revolve Group were worth $4,225,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RVLV. Price T Rowe Associates Inc. MD increased its stake in Revolve Group by 4.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,498 shares of the company’s stock valued at $561,000 after purchasing an additional 1,227 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in 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. Comerica Bank raised its stake in Revolve Group by 12,630.9% during the 1st 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. Harbor Capital Advisors Inc. boosted its holdings in Revolve Group by 410.8% in the second quarter. Harbor Capital Advisors Inc. now owns 73,336 shares of the company’s stock worth $1,167,000 after acquiring an additional 58,979 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Revolve Group by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 163,495 shares of the company’s stock valued at $2,601,000 after acquiring an additional 12,094 shares during the period. Institutional investors and hedge funds own 67.60% of the company’s stock.

Insider Activity at Revolve Group

In related news, CEO Michael Mente sold 36,114 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $25.95, for a total value of $937,158.30. Following the completion of the transaction, the chief executive officer now directly owns 73,000 shares of the company’s stock, valued at approximately $1,894,350. This trade represents a 33.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Mmmk Development, Inc. sold 6,493 shares of Revolve Group stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $25.92, for a total transaction of $168,298.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 581,817 shares of company stock worth $17,870,621. Insiders own 46.56% of the company’s stock.

Revolve Group Price Performance

NYSE RVLV opened at $35.02 on Monday. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 62.54, a PEG ratio of 2.21 and a beta of 2.05. The business’s fifty day moving average is $27.30 and its 200-day moving average is $22.23. Revolve Group, Inc. has a one year low of $13.24 and a one year high of $35.86.

Revolve Group (NYSE:RVLV) last released its 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 for 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. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Research analysts expect that Revolve Group, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Barclays upgraded Revolve Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $17.00 to $25.00 in a report on Wednesday, November 6th. TD Cowen lifted their price objective on shares of Revolve Group from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. UBS Group boosted their target price on shares of Revolve Group from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. BTIG Research raised their price target on shares of Revolve Group from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI boosted their price objective on Revolve Group from $21.00 to $33.00 and gave the stock an “in-line” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Revolve Group presently has an average rating of “Hold” and an average target price of $26.19.

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.