Balyasny Asset Management L.P. Boosts Stake in Revolve Group, Inc. (NYSE:RVLV)

Balyasny Asset Management L.P. raised its stake in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 596.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 795,607 shares of the company's stock after purchasing an additional 681,451 shares during the quarter. Balyasny Asset Management L.P. owned about 1.12% of Revolve Group worth $26,645,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RVLV. Barclays PLC increased 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 in the last quarter. Franklin Resources Inc. increased its stake in shares of Revolve Group by 6.9% in the third quarter. Franklin Resources Inc. now owns 27,195 shares of the company's stock worth $699,000 after acquiring an additional 1,753 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Revolve Group by 83.4% in the third quarter. JPMorgan Chase & Co. now owns 349,670 shares of the company's stock worth $8,665,000 after acquiring an additional 158,960 shares during the period. Sugar Maple Asset Management LLC acquired a new stake in shares of Revolve Group in the fourth quarter worth $50,000. Finally, Dakota Wealth Management acquired a new stake in shares of Revolve Group in the fourth quarter worth $211,000. Institutional investors and hedge funds own 67.60% of the company's stock.

Revolve Group Trading Up 8.6%

RVLV traded up $1.52 during midday trading on Monday, hitting $19.23. 908,333 shares of the company traded hands, compared to its average volume of 1,145,287. The business has a 50 day simple moving average of $20.96 and a two-hundred day simple moving average of $28.01. Revolve Group, Inc. has a 52-week low of $14.87 and a 52-week high of $39.58. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 1.48 and a beta of 2.10.

Revolve Group (NYSE:RVLV - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $296.71 million for the quarter, compared to analyst estimates of $297.56 million. During the same quarter last year, the business earned $0.15 earnings per share. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Revolve Group, Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

RVLV has been the topic of several analyst reports. KeyCorp dropped their target price on Revolve Group from $37.00 to $25.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Piper Sandler dropped their target price on Revolve Group from $35.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. BMO Capital Markets raised their target price on Revolve Group from $15.00 to $19.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Jefferies Financial Group raised Revolve Group from a "hold" rating to a "buy" rating and set a $30.00 target price on the stock in a report on Friday, March 14th. Finally, Raymond James dropped their price target on shares of Revolve Group from $25.00 to $21.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $26.00.

Insider Activity

In other news, CEO Michael Mente sold 67,118 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $30.91, for a total value of $2,074,617.38. Following the transaction, the chief executive officer now owns 73,000 shares in the company, valued at $2,256,430. This trade represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Karanikolas sold 12,566 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $25.94, for a total value of $325,962.04. Following the completion of the transaction, the chief executive officer now owns 123,000 shares in the company, valued at approximately $3,190,620. This trade represents a 9.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 145,406 shares of company stock worth $4,378,812 over the last quarter. 43.82% of the stock is currently owned by corporate insiders.

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.