Insider Selling: Rev Group Inc (NASDAQ:REVG) Major Shareholder Sells 10,812,653 Shares of Stock

Rev Group Inc (NASDAQ:REVG) major shareholder American Industrial Partners C sold 10,812,653 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $26.09, for a total transaction of $282,102,116.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

American Industrial Partners C also recently made the following trade(s):

  • On Tuesday, October 17th, American Industrial Partners C sold 9,402,307 shares of Rev Group stock. The stock was sold at an average price of $26.09, for a total transaction of $245,306,189.63.

Rev Group Inc (REVG) opened at $25.05 on Friday. Rev Group Inc has a fifty-two week low of $23.55 and a fifty-two week high of $31.60.

Rev Group (NASDAQ:REVG) last issued its earnings results on Thursday, September 7th. The company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.05. The firm had revenue of $595.60 million during the quarter, compared to the consensus estimate of $619.57 million. Rev Group had a return on equity of 11.25% and a net margin of 2.55%. The business’s revenue was up 12.8% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Monday, October 30th.

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Separately, Zacks Investment Research upgraded shares of Rev Group from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Rev Group has an average rating of “Buy” and an average price target of $32.00.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Schroder Investment Management Group boosted its stake in Rev Group by 22.8% in the 3rd quarter. Schroder Investment Management Group now owns 462,927 shares of the company’s stock worth $13,281,000 after purchasing an additional 86,084 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Rev Group during the third quarter valued at approximately $679,000. TD Asset Management Inc. grew its stake in Rev Group by 15.0% in the third quarter. TD Asset Management Inc. now owns 26,019 shares of the company’s stock worth $748,000 after purchasing an additional 3,400 shares during the period. Chartwell Investment Partners LLC boosted its holdings in Rev Group by 5.1% in the third quarter. Chartwell Investment Partners LLC now owns 124,059 shares of the company’s stock worth $3,567,000 after acquiring an additional 6,037 shares in the last quarter. Finally, Cortina Asset Management LLC increased its position in Rev Group by 12.0% during the third quarter. Cortina Asset Management LLC now owns 284,549 shares of the company’s stock valued at $8,184,000 after acquiring an additional 30,543 shares during the last quarter.

About Rev Group

REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).

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