Revolve Group (NASDAQ:RVLV) Shares Gap Down to $22.10

Revolve Group (NASDAQ:RVLV)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $18.98, but opened at $22.10. Revolve Group shares last traded at $24.26, with a volume of 48,489 shares changing hands.

RVLV has been the topic of a number of recent research reports. Barclays initiated coverage on Revolve Group in a research report on Tuesday, July 2nd. They issued an “equal weight” rating and a $32.00 target price on the stock. Credit Suisse Group initiated coverage on Revolve Group in a research report on Tuesday, July 2nd. They issued an “outperform” rating and a $40.00 target price on the stock. Bank of America reaffirmed a “neutral” rating and issued a $33.00 target price (down previously from $36.00) on shares of Revolve Group in a research report on Friday, August 9th. Raymond James initiated coverage on Revolve Group in a research report on Tuesday, July 2nd. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Guggenheim reaffirmed a “buy” rating and issued a $50.00 target price on shares of Revolve Group in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Revolve Group has an average rating of “Buy” and an average price target of $42.63.

The company’s 50 day moving average is $33.51.

Revolve Group (NASDAQ:RVLV) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $161.90 million during the quarter, compared to analyst estimates of $159.93 million. Revolve Group’s revenue was up 22.8% compared to the same quarter last year.

In other Revolve Group news, Director Jennifer Baxter Moser sold 9,927,585 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $18.00, for a total transaction of $178,696,530.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder L.P. Tsg6 sold 9,914,711 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $18.00, for a total value of $178,464,798.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,195,238 shares of company stock valued at $381,514,284.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Revolve Group in the 2nd quarter valued at $35,000. CenterStar Asset Management LLC acquired a new stake in Revolve Group during the 2nd quarter worth about $56,000. FNY Investment Advisers LLC acquired a new stake in Revolve Group during the 2nd quarter worth about $118,000. Gs Investments Inc. acquired a new stake in Revolve Group during the 2nd quarter worth about $178,000. Finally, Sfmg LLC bought a new position in shares of Revolve Group during the 2nd quarter worth about $201,000.

About Revolve Group (NASDAQ:RVLV)

Revolve Group, Inc operates as an online fashion retailer for consumers in the United States and internationally. The company operates a platform that connects consumers and global fashion influencers, as well as emerging, established, and owned brands. It provides women's apparel, footwear, accessories, and beauty styles under a range of established and emerging brands, as well as owned brands.

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