Revolve Group, Inc. $RVLV Shares Sold by Comerica Bank

Key Points

• Comerica Bank significantly reduced its stake in Revolve Group by 59.2% during the first quarter, now holding 48,460 shares.
• Equities analysts have raised target prices for Revolve Group, with UBS Group setting a target of $22.00 and Piper Sandler at $25.00, reflecting positive sentiment in the stock.
• Revolve Group reported better-than-expected quarterly earnings, with $0.14 EPS and revenues of $308.97 million, marking a 9.3% increase year-over-year.

Comerica Bank lessened its stake in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 59.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,460 shares of the company's stock after selling 70,347 shares during the quarter. Comerica Bank owned 0.07% of Revolve Group worth $1,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of RVLV. Summit Securities Group LLC acquired a new position in shares of Revolve Group during the first quarter worth about $25,000. CWM LLC lifted its stake in shares of Revolve Group by 40.4% during the first quarter. CWM LLC now owns 2,905 shares of the company's stock worth $62,000 after purchasing an additional 836 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Revolve Group in the fourth quarter worth about $65,000. Wallace Advisory Group LLC acquired a new position in shares of Revolve Group in the first quarter worth about $136,000. Finally, Neo Ivy Capital Management acquired a new stake in Revolve Group during the 4th quarter valued at approximately $156,000. Institutional investors and hedge funds own 67.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RVLV shares. UBS Group reaffirmed 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. Roth Capital reaffirmed a "buy" rating and issued a $24.00 target price (up from $19.00) on shares of Revolve Group in a research report on Tuesday, August 5th. Morgan Stanley upped their target price on Revolve Group from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Cowen reaffirmed a "buy" rating on shares of Revolve Group in a research report on Friday, June 6th. Finally, Piper Sandler upped their target price on Revolve Group from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.40.

Revolve Group Stock Up 4.1%

Shares of NYSE RVLV opened at $23.79 on Friday. The stock's 50 day moving average price is $21.36 and its two-hundred day moving average price is $21.48. Revolve Group, Inc. has a 52-week low of $16.80 and a 52-week high of $39.58. The stock has a market capitalization of $1.70 billion, a P/E ratio of 38.38, a PEG ratio of 2.50 and a beta of 1.94.

Revolve Group (NYSE:RVLV - Get Free Report) last announced its quarterly earnings data 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. Revolve Group had a return on equity of 10.17% and a net margin of 3.83%.The firm had revenue of $308.97 million for the quarter, compared to analysts' expectations of $297.91 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Revolve Group's revenue for the quarter was up 9.3% compared to the same quarter last year. On average, analysts anticipate that Revolve Group, Inc. will post 0.6 EPS for the current year.

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.

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