Raymond James Financial Inc. Purchases 411,092 Shares of Revolve Group, Inc. $RVLV

Key Points

• Raymond James Financial Inc. significantly increased its stake in Revolve Group, Inc. by 4,131.2% during Q1, now owning approximately 421,043 shares valued at about $9 million.
• Analysts have boosted their price targets for Revolve Group, with Roth Capital setting a new target of $24.00 and expectations of a consensus target price of $27.40.
• Revolve Group reported a EPS of $0.14 for the last quarter, surpassing estimates and showing a 9.3% year-over-year revenue increase.

Raymond James Financial Inc. increased its holdings in Revolve Group, Inc. (NYSE:RVLV - Free Report) by 4,131.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 421,043 shares of the company's stock after buying an additional 411,092 shares during the quarter. Raymond James Financial Inc. owned about 0.59% of Revolve Group worth $9,048,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RVLV. CWM LLC increased its holdings in Revolve Group by 40.4% in the 1st quarter. CWM LLC now owns 2,905 shares of the company's stock worth $62,000 after buying an additional 836 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Revolve Group in the 4th quarter worth about $65,000. Wallace Advisory Group LLC bought a new stake in Revolve Group in the 1st quarter worth about $136,000. Neo Ivy Capital Management bought a new stake in Revolve Group in the 4th quarter worth about $156,000. Finally, First Trust Advisors LP bought a new stake in Revolve Group in the 4th quarter worth about $209,000. 67.60% of the stock is currently owned by institutional investors.

Revolve Group Trading Up 0.5%

RVLV traded up $0.12 on Thursday, hitting $22.72. 363,857 shares of the company's stock traded hands, compared to its average volume of 1,379,583. The company's 50 day simple moving average is $21.25 and its 200-day simple moving average is $21.59. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 36.66, a P/E/G ratio of 2.44 and a beta of 1.94. Revolve Group, Inc. has a one year low of $16.80 and a one year high of $39.58.

Revolve Group (NYSE:RVLV - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. As a group, equities analysts anticipate that Revolve Group, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on RVLV. Piper Sandler lifted their price objective on Revolve Group from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Morgan Stanley raised their target price on Revolve Group from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. UBS Group reissued a "neutral" rating and issued a $22.00 target price (up from $19.00) on shares of Revolve Group in a research report on Friday, July 25th. Raymond James Financial raised their target price on Revolve Group from $21.00 to $25.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Finally, KeyCorp dropped their target price on Revolve Group from $37.00 to $25.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Ten investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average 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.