Townsquare Capital LLC Sells 8,342 Shares of Revolve Group, Inc. (NYSE:RVLV)

Townsquare Capital LLC reduced its position in shares of Revolve Group, Inc. (NYSE:RVLV) by 6.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 125,152 shares of the company’s stock after selling 8,342 shares during the quarter. Townsquare Capital LLC owned 0.18% of Revolve Group worth $3,101,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Revolve Group by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 315,213 shares of the company’s stock valued at $7,811,000 after acquiring an additional 2,963 shares in the last quarter. Navellier & Associates Inc. purchased a new stake in Revolve Group during the 3rd quarter valued at $612,000. Intech Investment Management LLC bought a new stake in shares of Revolve Group in the 3rd quarter worth $241,000. LMR Partners LLP purchased a new position in shares of Revolve Group in the third quarter worth $228,000. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Revolve Group in the third quarter worth $1,509,000. 67.60% of the stock is owned by hedge funds and other institutional investors.

Revolve Group Stock Down 2.3 %

NYSE RVLV opened at $36.08 on Friday. Revolve Group, Inc. has a 52 week low of $13.24 and a 52 week high of $39.03. The company has a market capitalization of $2.55 billion, a P/E ratio of 64.43, a price-to-earnings-growth ratio of 2.33 and a beta of 2.05. The stock’s 50-day moving average price is $28.32 and its 200-day moving average price is $22.67.

Revolve Group (NYSE:RVLV) last released its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. Revolve Group had a net margin of 3.72% and a return on equity of 10.17%. The company had revenue of $283.15 million during the quarter, compared to analyst estimates of $271.08 million. During the same period in the prior year, the firm posted $0.04 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Research analysts anticipate that Revolve Group, Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

RVLV has been the subject of several research analyst reports. BTIG Research lifted their price objective on Revolve Group from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. TD Cowen raised their price target on shares of Revolve Group from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their price objective on shares of Revolve Group from $24.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Barclays upgraded shares of Revolve Group from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $17.00 to $25.00 in a report on Wednesday, November 6th. Finally, UBS Group boosted their target price on shares of Revolve Group from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.19.

Insider Activity

In related news, major shareholder Mmmk Development, Inc. sold 6,493 shares of Revolve Group stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.92, for a total transaction of $168,298.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Mente sold 36,114 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $25.95, for a total value of $937,158.30. Following the completion of the transaction, the chief executive officer now directly owns 73,000 shares in the company, valued at approximately $1,894,350. This represents a 33.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 581,817 shares of company stock worth $17,870,621 in the last three months. Company insiders own 46.56% of the company’s stock.

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.