Mmmk Development, Inc. Sells 6,493 Shares of Revolve Group, Inc. (NYSE:RVLV) Stock

Revolve Group, Inc. (NYSE:RVLV) major shareholder Mmmk Development, Inc. sold 6,493 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.92, for a total transaction of $168,298.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Revolve Group Stock Performance

Shares of RVLV stock opened at $25.48 on Friday. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 74.94, a PEG ratio of 2.28 and a beta of 2.04. Revolve Group, Inc. has a 52-week low of $12.25 and a 52-week high of $25.96. The company has a 50-day simple moving average of $21.48 and a two-hundred day simple moving average of $19.90.

Revolve Group (NYSE:RVLV) last released its earnings results on Tuesday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. The company had revenue of $282.50 million during the quarter, compared to analyst estimates of $277.06 million. Revolve Group had a return on equity of 8.35% and a net margin of 3.08%. Revolve Group’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share. On average, sell-side analysts forecast that Revolve Group, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Revolve Group

Several large investors have recently made changes to their positions in RVLV. Benjamin F. Edwards & Company Inc. bought a new position in Revolve Group during the first quarter valued at about $45,000. Quarry LP purchased a new position in Revolve Group in the second quarter valued at about $68,000. Assetmark Inc. grew its position in shares of Revolve Group by 8.3% during the 4th quarter. Assetmark Inc. now owns 8,252 shares of the company’s stock valued at $137,000 after acquiring an additional 631 shares during the period. American Century Companies Inc. purchased a new stake in shares of Revolve Group during the 2nd quarter worth approximately $165,000. Finally, Pier 88 Investment Partners LLC bought a new stake in shares of Revolve Group in the 2nd quarter worth approximately $182,000. 67.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Evercore ISI increased their price objective on shares of Revolve Group from $20.00 to $21.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 7th. TD Cowen increased their price target on Revolve Group from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Barclays decreased their price objective on Revolve Group from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Thursday, July 18th. Piper Sandler reissued an “overweight” rating and issued a $30.00 price target on shares of Revolve Group in a research report on Friday, August 23rd. Finally, Robert W. Baird boosted their price target on shares of Revolve Group from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.44.

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.