Revolve Group (NYSE:RVLV) Stock Price Down 16% – Here’s What Happened

Shares of Revolve Group, Inc. (NYSE:RVLV) dropped 16% during mid-day trading on Thursday . The company traded as low as $18.63 and last traded at $18.85. Approximately 170,529 shares changed hands during trading, a decline of 84% from the average daily volume of 1,045,655 shares. The stock had previously closed at $22.43.

Analyst Ratings Changes

A number of analysts have commented on RVLV shares. Stifel Nicolaus decreased their price objective on Revolve Group from $41.00 to $40.00 and set a “buy” rating for the company 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 for the company in a report on Friday, March 14th. Roth Mkm reissued a “buy” rating and issued a $36.00 target price (up from $35.00) on shares of Revolve Group in a research report on Wednesday, February 26th. BMO Capital Markets lifted their price objective on Revolve Group from $15.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Finally, KeyCorp upgraded shares of Revolve Group from a “sector weight” rating to an “overweight” rating and set a $37.00 target price for the company in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.53.

Revolve Group Stock Performance

The firm has a 50-day moving average price of $26.85 and a 200-day moving average price of $29.12. The stock has a market cap of $1.32 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 1.48 and a beta of 2.25.

Insider Activity at Revolve Group

In related news, CEO Michael Mente sold 44,962 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $30.93, for a total value of $1,390,674.66. Following the transaction, the chief executive officer now directly owns 73,000 shares of the company’s stock, valued at approximately $2,257,890. This trade represents a 38.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Karanikolas sold 12,566 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 123,000 shares of the company’s stock, valued at approximately $3,190,620. This trade represents a 9.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 372,373 shares of company stock valued at $11,268,499 over the last 90 days. Corporate insiders own 46.56% of the company’s stock.

Institutional Investors Weigh In On Revolve Group

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Revolve Group by 83.4% in the 3rd 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 last quarter. Barclays PLC boosted its holdings in shares of Revolve Group by 156.7% in the 3rd quarter. Barclays PLC now owns 85,613 shares of the company’s stock worth $2,122,000 after purchasing an additional 52,257 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Revolve Group by 1.1% during the 4th 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 during the last quarter. Franklin Resources Inc. lifted its position in 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 buying an additional 1,753 shares during the last quarter. Finally, Centiva Capital LP boosted its stake in shares of Revolve Group by 238.3% during the 3rd quarter. Centiva Capital LP now owns 56,133 shares of the company’s stock worth $1,391,000 after purchasing an additional 39,538 shares during the period. 67.60% of the stock is owned by institutional investors.

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.