Driehaus Capital Management LLC Lowers Stock Position in Revolve Group, Inc. $RVLV

Key Points

• Driehaus Capital Management LLC has reduced its holdings in Revolve Group, Inc. by 42.5%, owning 249,576 shares after selling 184,304 shares in the first quarter.
• Analysts have updated their price targets for Revolve Group, with Morgan Stanley increasing their target from $22 to $24 and Piper Sandler raising theirs from $22 to $25.
• Revolve Group reported earnings of $0.14 per share for the quarter, exceeding analyst estimates and showing a 9.3% increase in revenue compared to the same quarter last year.

Driehaus Capital Management LLC trimmed its position in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 42.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,576 shares of the company's stock after selling 184,304 shares during the period. Driehaus Capital Management LLC owned 0.35% of Revolve Group worth $5,363,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RVLV. Summit Securities Group LLC bought a new stake in shares of Revolve Group during the 1st quarter worth about $25,000. Castlekeep Investment Advisors LLC acquired a new stake in Revolve Group during the fourth quarter worth about $65,000. CWM LLC raised its position in Revolve Group by 40.4% during the first quarter. CWM LLC now owns 2,905 shares of the company's stock valued at $62,000 after purchasing an additional 836 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Revolve Group in the 4th quarter valued at $156,000. Finally, First Trust Advisors LP acquired a new stake in shares of Revolve Group in the 4th quarter valued at approximately $209,000. 67.60% of the stock is owned by institutional investors and hedge funds.

Revolve Group Price Performance

Shares of NYSE:RVLV traded up $0.33 during trading on Thursday, hitting $22.93. 446,064 shares of the company were exchanged, compared to its average volume of 1,379,984. Revolve Group, Inc. has a 52-week low of $16.80 and a 52-week high of $39.58. The stock has a 50 day moving average of $21.25 and a 200 day moving average of $21.59. The company has a market cap of $1.63 billion, a PE ratio of 36.96, a P/E/G ratio of 2.44 and a beta of 1.94.

Revolve Group (NYSE:RVLV - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $308.97 million for the quarter, compared to the consensus estimate of $297.91 million. Revolve Group had a return on equity of 10.17% and a net margin of 3.83%.The firm's revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 earnings per share. Sell-side analysts forecast that Revolve Group, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group reiterated a "neutral" rating and set a $22.00 price target (up from $19.00) on shares of Revolve Group in a report on Friday, July 25th. Morgan Stanley boosted their price target on shares of Revolve Group from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Piper Sandler lifted their target price on Revolve Group from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Raymond James Financial increased their price objective on shares of Revolve Group from $21.00 to $25.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Roth Capital restated a "buy" rating and set a $24.00 price target (up previously from $19.00) on shares of Revolve Group in a research note on Tuesday, August 5th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Revolve Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.40.

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.