Bank of America Corp DE Reduces Stock Holdings in Revolve Group, Inc. (NYSE:RVLV)

Bank of America Corp DE decreased its holdings in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 27.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 643,093 shares of the company's stock after selling 248,743 shares during the period. Bank of America Corp DE owned approximately 0.91% of Revolve Group worth $21,537,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in shares of Revolve Group by 16.4% in the fourth quarter. BNP Paribas Financial Markets now owns 121,621 shares of the company's stock valued at $4,073,000 after buying an additional 17,108 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Revolve Group by 15.5% in the 4th quarter. Ameriprise Financial Inc. now owns 10,190 shares of the company's stock valued at $341,000 after acquiring an additional 1,364 shares in the last quarter. Algert Global LLC raised 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 acquiring an additional 212,914 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Revolve Group in the 4th quarter valued at $1,142,000. Finally, Northern Trust Corp raised its holdings in Revolve Group by 4.0% in the 4th quarter. Northern Trust Corp now owns 379,788 shares of the company's stock valued at $12,719,000 after acquiring an additional 14,703 shares in the last quarter. Institutional investors own 67.60% of the company's stock.

Revolve Group Stock Down 1.3%

RVLV traded down $0.26 during midday trading on Friday, hitting $19.36. 1,277,588 shares of the company were exchanged, compared to its average volume of 1,173,270. The firm has a market capitalization of $1.38 billion, a P/E ratio of 34.58, a P/E/G ratio of 1.48 and a beta of 2.10. The firm's 50 day moving average price is $20.36 and its 200-day moving average price is $27.54. Revolve Group, Inc. has a 1-year low of $14.87 and a 1-year high of $39.58.

Revolve Group (NYSE:RVLV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. The company had revenue of $296.71 million for the quarter, compared to the consensus estimate of $297.56 million. During the same period in the previous year, the business earned $0.15 EPS. The firm's revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts predict that Revolve Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RVLV. Piper Sandler decreased their price target on Revolve Group from $35.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. KeyCorp decreased their price target on Revolve Group from $37.00 to $25.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Roth Mkm reiterated a "buy" rating and issued a $36.00 price target (up previously from $35.00) on shares of Revolve Group in a research note on Wednesday, February 26th. UBS Group decreased their price target on Revolve Group from $22.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Raymond James decreased their price target on Revolve Group from $25.00 to $21.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $26.07.

Insider Transactions at Revolve Group

In other Revolve Group news, CEO Michael Karanikolas sold 12,566 shares of Revolve Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $25.94, for a total transaction of $325,962.04. Following the transaction, the chief executive officer now directly owns 123,000 shares of the company's stock, valued at $3,190,620. The trade was a 9.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 43.82% of the company's stock.

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.