Miracle Mile Advisors LLC Cuts Stock Holdings in Revolve Group, Inc. (NYSE:RVLV)

Miracle Mile Advisors LLC lessened its position in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 59.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,908 shares of the company's stock after selling 42,527 shares during the period. Miracle Mile Advisors LLC's holdings in Revolve Group were worth $621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Barclays PLC boosted its stake in Revolve Group by 156.7% during the 3rd quarter. Barclays PLC now owns 85,613 shares of the company's stock valued at $2,122,000 after purchasing an additional 52,257 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Revolve Group in the 4th quarter worth approximately $275,000. Principal Financial Group Inc. purchased a new position in shares of Revolve Group during the 4th quarter valued at $3,250,000. Venturi Wealth Management LLC boosted its position in Revolve Group by 1,302.1% during the fourth quarter. Venturi Wealth Management LLC now owns 1,346 shares of the company's stock valued at $45,000 after purchasing an additional 1,250 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Revolve Group by 3.0% during the 4th quarter. New York State Common Retirement Fund now owns 164,924 shares of the company's stock worth $5,523,000 after purchasing an additional 4,844 shares in the last quarter. 67.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on RVLV. Piper Sandler dropped their price objective 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. UBS Group lowered 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. Morgan Stanley lowered their target price on shares of Revolve Group from $29.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. KeyCorp cut their price objective on Revolve Group from $37.00 to $25.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, Raymond James reduced their target price on Revolve Group from $25.00 to $21.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $26.20.

Revolve Group Stock Down 3.2%

Shares of NYSE:RVLV traded down $0.68 during trading on Friday, hitting $20.28. 1,198,046 shares of the company were exchanged, compared to its average volume of 1,198,429. The company has a market capitalization of $1.44 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 1.48 and a beta of 2.02. Revolve Group, Inc. has a 1-year low of $14.87 and a 1-year high of $39.58. The business's 50 day moving average is $20.20 and its 200-day moving average is $26.27.

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

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.