Roth Mkm Reiterates “Buy” Rating for Revolve Group (NYSE:RVLV)

Roth Mkm reaffirmed their buy rating on shares of Revolve Group (NYSE:RVLV) in a report issued on Wednesday morning,Benzinga reports. Roth Mkm currently has a $36.00 price objective on the stock, up from their prior price objective of $35.00.

Several other brokerages have also recently issued reports on RVLV. Evercore ISI increased their price objective on Revolve Group from $21.00 to $33.00 and gave the company an “in-line” rating in a research note on Wednesday, November 6th. UBS Group increased their price objective on Revolve Group from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Stifel Nicolaus reduced their price objective on Revolve Group from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. KeyCorp upgraded Revolve Group from a “sector weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a research note on Thursday, January 23rd. Finally, Piper Sandler increased their price objective on 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 seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.57.

Revolve Group Stock Up 1.1 %

RVLV opened at $26.55 on Wednesday. Revolve Group has a 52 week low of $14.87 and a 52 week high of $39.58. The business has a fifty day simple moving average of $30.84 and a 200-day simple moving average of $29.07. The firm has a market cap of $1.88 billion, a P/E ratio of 47.41, a P/E/G ratio of 1.48 and a beta of 2.17.

Insider Buying and Selling

In related news, CEO Michael Mente sold 67,118 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $30.91, for a total transaction of $2,074,617.38. Following the transaction, the chief executive officer now owns 73,000 shares of the company’s stock, valued at $2,256,430. This trade 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 this link. Insiders have sold a total of 687,778 shares of company stock valued at $22,364,908 over the last quarter. 46.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Revolve Group

A number of hedge funds and other institutional investors have recently made changes to their positions in RVLV. Balyasny Asset Management L.P. grew its holdings in shares of Revolve Group by 596.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 795,607 shares of the company’s stock worth $26,645,000 after buying an additional 681,451 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Revolve Group during the fourth quarter worth about $14,531,000. Algert Global LLC boosted its holdings in Revolve Group by 235.6% in the 4th quarter. Algert Global LLC now owns 303,289 shares of the company’s stock valued at $10,157,000 after purchasing an additional 212,914 shares in the last quarter. Woodline Partners LP purchased a new stake in Revolve Group in the 4th quarter valued at approximately $6,477,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in Revolve Group in the 3rd quarter valued at approximately $3,982,000. Hedge funds and other institutional investors own 67.60% of the company’s stock.

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.