Driehaus Capital Management LLC Makes New $14.53 Million Investment in Revolve Group, Inc. (NYSE:RVLV)

Driehaus Capital Management LLC purchased a new stake in shares of Revolve Group, Inc. (NYSE:RVLV) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 433,880 shares of the company’s stock, valued at approximately $14,531,000. Driehaus Capital Management LLC owned about 0.61% of Revolve Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RVLV. JPMorgan Chase & Co. lifted its position in Revolve Group by 83.4% during the third quarter. JPMorgan Chase & Co. now owns 349,670 shares of the company’s stock valued at $8,665,000 after purchasing an additional 158,960 shares during the last quarter. Barclays PLC raised its position in Revolve Group by 156.7% during the third 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. Charles Schwab Investment Management Inc. raised its position in Revolve Group by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 318,683 shares of the company’s stock valued at $10,673,000 after purchasing an additional 3,470 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Revolve Group by 21.9% during the fourth quarter. Hsbc Holdings PLC now owns 16,445 shares of the company’s stock worth $555,000 after purchasing an additional 2,955 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Revolve Group by 6.9% during the 3rd quarter. Franklin Resources Inc. now owns 27,195 shares of the company’s stock valued at $699,000 after purchasing an additional 1,753 shares during the last quarter. Hedge funds and other institutional investors own 67.60% of the company’s stock.

Insider Activity

In other Revolve Group news, CEO Michael Mente sold 67,118 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $30.91, for a total transaction of $2,074,617.38. Following the completion of the sale, the chief executive officer now directly owns 73,000 shares in the company, valued at approximately $2,256,430. This trade represents a 47.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Karanikolas sold 12,566 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $25.94, for a total transaction 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 represents a 9.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,406 shares of company stock worth $4,378,812. Insiders own 43.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on RVLV shares. Jefferies Financial Group raised shares of Revolve Group from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Friday, March 14th. Barclays reissued a “reduce” rating on shares of Revolve Group in a research note on Wednesday. UBS Group dropped their target price on Revolve Group from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday. Piper Sandler decreased their price target on Revolve Group from $35.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Finally, Morgan Stanley dropped their price objective on Revolve Group from $29.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Revolve Group currently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Revolve Group Stock Performance

Revolve Group stock opened at $17.44 on Friday. Revolve Group, Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $39.58. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 1.48 and a beta of 2.10. The stock’s 50 day simple moving average is $21.09 and its two-hundred day simple moving average is $28.02.

Revolve Group (NYSE:RVLV) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. The business had revenue of $296.71 million during the quarter, compared to the consensus estimate of $297.56 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that Revolve Group, Inc. will post 0.6 earnings per share 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.