Engineers Gate Manager LP Sells 55,950 Shares of Revolve Group, Inc. $RVLV

Key Points

• Engineers Gate Manager LP cut its Revolve Group position by 62.5%, selling 55,950 shares and retaining 33,550 shares valued at approximately $768,000.
• Institutional investors own 67.6% of Revolve Group, with several funds initiating or increasing positions during the second quarter.
• Revolve reported quarterly EPS of $0.26, beating estimates by $0.05, while revenue rose 12.5% year over year to $347.41 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $30.08.

Engineers Gate Manager LP decreased its position in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 62.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,550 shares of the company's stock after selling 55,950 shares during the quarter. Engineers Gate Manager LP's holdings in Revolve Group were worth $768,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in Revolve Group during the 2nd quarter valued at approximately $46,000. Squarepoint Ops LLC boosted its stake in Revolve Group by 9.8% in the 2nd quarter. Squarepoint Ops LLC now owns 182,224 shares of the company's stock worth $4,171,000 after purchasing an additional 16,228 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Revolve Group in the 2nd quarter worth approximately $259,000. Madison Asset Management LLC purchased a new stake in Revolve Group during the 2nd quarter valued at approximately $2,946,000. Finally, Gradient Investments LLC purchased a new stake in Revolve Group during the 2nd quarter valued at approximately $1,437,000. Institutional investors own 67.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on RVLV shares. Wall Street Zen downgraded shares of Revolve Group from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Piper Sandler boosted their target price on Revolve Group from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Roth Capital reiterated a "buy" rating and issued a $37.00 target price on shares of Revolve Group in a research report on Wednesday, August 5th. UBS Group increased their price target on Revolve Group from $28.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings cut Revolve Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, September 9th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $30.08.

Revolve Group Trading Down 0.2%

Shares of RVLV stock opened at $20.62 on Monday. Revolve Group, Inc. has a twelve month low of $17.35 and a twelve month high of $31.68. The stock has a fifty day simple moving average of $23.49 and a two-hundred day simple moving average of $22.76. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 2.56 and a beta of 1.61.

Revolve Group (NYSE:RVLV - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. Revolve Group had a return on equity of 13.38% and a net margin of 5.54%.The firm had revenue of $347.41 million during the quarter, compared to the consensus estimate of $341.91 million. During the same period in the previous year, the company posted $0.14 earnings per share. The firm's quarterly revenue was up 12.5% on a year-over-year basis. Research analysts predict that Revolve Group, Inc. will post 0.82 EPS for the current fiscal year.

Revolve Group Company Profile

Revolve Group, Inc operates a digitally native fashion platform serving millennial and Generation Z consumers. The company offers women's and men's apparel, footwear, accessories, beauty products and lifestyle merchandise through its online retail platforms and related brand businesses.

Its portfolio includes REVOLVE, which focuses on contemporary fashion and influencer-driven shopping, and FWRD, a luxury fashion platform offering designer apparel, footwear and accessories. The company also develops and sells proprietary and exclusive-label products, including offerings associated with its owned brands, while working with a broad range of third-party fashion brands.

Revolve Group was founded in 2003 by Michael Mente and Mike Karanikolas and is based in California.

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