Kayne Anderson Rudnick Investment Management LLC Sells 280,279 Shares of Revolve Group, Inc. $RVLV

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in Revolve Group, Inc. by 5.7%, now holding approximately 4.67 million shares worth $100.35 million.
• Revolve Group's stock price has increased 6.2% recently, with a market cap of $1.60 billion and a current price of around $22.50.
• The company's quarterly earnings report showed an EPS of $0.14, exceeding expectations, with a revenue of $308.97 million, representing a year-over-year increase of 9.3%.

Kayne Anderson Rudnick Investment Management LLC lessened its stake in Revolve Group, Inc. (NYSE:RVLV - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,669,682 shares of the company's stock after selling 280,279 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 6.56% of Revolve Group worth $100,351,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Balyasny Asset Management L.P. raised its position in Revolve Group by 596.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 795,607 shares of the company's stock worth $26,645,000 after purchasing an additional 681,451 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Revolve Group by 27.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,363,896 shares of the company's stock worth $50,800,000 after purchasing an additional 506,225 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Revolve Group in the fourth quarter worth about $14,531,000. Raymond James Financial Inc. raised its position in Revolve Group by 4,131.2% in the first quarter. Raymond James Financial Inc. now owns 421,043 shares of the company's stock worth $9,048,000 after purchasing an additional 411,092 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Revolve Group in the first quarter worth about $5,246,000. Institutional investors own 67.60% of the company's stock.

Revolve Group Price Performance

Shares of NYSE RVLV traded down $0.23 during midday trading on Friday, reaching $22.46. 211,788 shares of the stock were exchanged, compared to its average volume of 1,388,608. The business has a 50-day simple moving average of $21.10 and a two-hundred day simple moving average of $21.83. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 36.26, a P/E/G ratio of 2.51 and a beta of 1.98. Revolve Group, Inc. has a 12 month low of $16.80 and a 12 month high of $39.58.

Revolve Group (NYSE:RVLV - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.14 earnings per share 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 analysts' expectations of $297.91 million. Revolve Group had a net margin of 3.83% and a return on equity of 10.17%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. Equities research analysts expect that Revolve Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

RVLV has been the subject of several recent research reports. Raymond James Financial increased their price target 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. Barclays reissued a "reduce" rating on shares of Revolve Group in a research report on Wednesday, May 7th. Cowen reissued a "buy" rating on shares of Revolve Group in a research report on Friday, June 6th. Piper Sandler raised their price objective on shares of Revolve Group from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Finally, Robert W. Baird raised their price objective on shares of Revolve Group from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Ten investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.40.

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.