Logan Capital Management Inc. Sells 49,994 Shares of 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. lessened its stake in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 92.4% in the first quarter, according to the company in its most recent filing with the SEC. 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 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Revolve Group during the 1st quarter worth about $25,000. CWM LLC grew its position in shares of Revolve Group by 40.4% during the 1st 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 during the 4th quarter worth approximately $65,000. Wallace Advisory Group LLC acquired a new position in shares of Revolve Group during the 1st quarter worth approximately $136,000. Finally, Neo Ivy Capital Management bought a new position in Revolve Group in the 4th quarter valued at about $156,000. Institutional investors and hedge funds own 67.60% of the company's stock.

Revolve Group Stock Performance

Shares of NYSE RVLV traded down $1.54 during midday trading on Friday, reaching $22.39. The stock had a trading volume of 1,043,678 shares, compared to its average volume of 978,808. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 2.61 and a beta of 1.94. Revolve Group, Inc. has a twelve month low of $16.80 and a twelve month high of $39.58. The company's 50 day moving average price is $21.58 and its 200 day moving average price is $21.24.

Revolve Group (NYSE:RVLV - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. Revolve Group had a net margin of 3.83% and a return on equity of 10.17%. The company had revenue of $308.97 million for the quarter, compared to the consensus estimate of $297.91 million. During the same quarter in the previous year, the company earned $0.21 EPS. Revolve Group's quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that Revolve Group, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler raised their target price on shares of Revolve Group from $22.00 to $25.00 and gave the company an "overweight" rating in a 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 report on Friday, July 25th. Robert W. Baird raised their target price on shares of Revolve Group from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, June 6th. Roth Capital reaffirmed a "buy" rating and set a $24.00 price target (up from $19.00) on shares of Revolve Group in a report on Tuesday, August 5th. Finally, Raymond James Financial lifted their price target on shares of Revolve Group from $21.00 to $25.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company 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.