Logan Capital Management Inc. Trims Stake in Revolve Group, Inc. $RVLV

Key Points

• Logan Capital Management Inc. significantly reduced its stake in Revolve Group, selling 49,994 shares and leaving it with only 4,116 shares, representing a cut of 92.4%.
• Revolve Group reported earnings of $0.14 per share for the last quarter, exceeding the consensus estimate of $0.12, with revenue of $308.97 million, marking a year-over-year increase of 9.3%.
• Investment analysts have given Revolve Group a moderate buy rating with an average price target of $27.40, reflecting overall positive sentiment in the market.

Logan Capital Management Inc. reduced its holdings in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 92.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,116 shares of the company's stock after selling 49,994 shares during the quarter. Logan Capital Management Inc.'s holdings in Revolve Group were worth $88,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Revolve Group by 2.6% in the first quarter. Vanguard Group Inc. now owns 3,930,620 shares of the company's stock valued at $84,469,000 after purchasing an additional 98,413 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of 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 valued at $50,800,000 after buying an additional 506,225 shares during the period. Millennium Management LLC increased its stake in shares of Revolve Group by 6,190.7% in the first quarter. Millennium Management LLC now owns 986,693 shares of the company's stock valued at $21,204,000 after buying an additional 1,002,893 shares during the period. Stephens Investment Management Group LLC increased its stake in shares of Revolve Group by 9.7% in the first quarter. Stephens Investment Management Group LLC now owns 636,051 shares of the company's stock valued at $13,669,000 after buying an additional 56,290 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Revolve Group by 16.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 588,964 shares of the company's stock valued at $12,963,000 after buying an additional 82,043 shares during the period. 67.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Roth Capital reissued a "buy" rating and issued a $24.00 price target (up previously from $19.00) on shares of Revolve Group in a research note on Tuesday, August 5th. 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 note on Tuesday, July 22nd. Cowen reaffirmed a "buy" rating on shares of Revolve Group in a research note on Friday, June 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 note on Wednesday, August 6th. Finally, Piper Sandler raised their target price on Revolve Group from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Revolve Group has a consensus rating of "Moderate Buy" and an average target price of $27.40.

Revolve Group Price Performance

Shares of RVLV traded up $1.60 during mid-day trading on Monday, hitting $23.94. The stock had a trading volume of 645,252 shares, compared to its average volume of 1,367,545. The firm has a market cap of $1.71 billion, a P/E ratio of 38.52, a PEG ratio of 2.44 and a beta of 1.94. The business has a fifty day moving average price of $21.58 and a 200-day moving average price of $21.20. Revolve Group, Inc. has a 52 week low of $16.80 and a 52 week 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, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $308.97 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. As a group, research analysts expect that Revolve Group, Inc. will post 0.6 earnings per share for the current fiscal 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.