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

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Shares of Revolve Group (NASDAQ:RVLV) gapped down before the market opened 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.

A number of equities research analysts have issued reports on RVLV shares. Raymond James started coverage on shares of Revolve Group in a report on Tuesday, July 2nd. They set an “outperform” rating and a $40.00 target price on the stock. Morgan Stanley started coverage on shares of Revolve Group in a report on Tuesday, July 2nd. They set an “overweight” rating and a $39.00 target price on the stock. Guggenheim reissued a “buy” rating and set a $50.00 target price on shares of Revolve Group in a report on Friday, August 9th. Barclays started coverage on shares of Revolve Group in a report on Tuesday, July 2nd. They set an “equal weight” rating and a $32.00 target price on the stock. Finally, Jefferies Financial Group boosted their target price on shares of Revolve Group from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $42.63.

The stock’s fifty day simple moving average is $33.72.

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

In other news, Director Jennifer Baxter Moser sold 9,927,585 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $18.00, for a total transaction of $178,696,530.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder L.P. Tsg6 sold 9,914,711 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $18.00, for a total transaction of $178,464,798.00. The disclosure for this sale can be found here. Insiders have sold a total of 21,195,238 shares of company stock valued at $381,514,284 over the last 90 days.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Revolve Group in the second quarter worth $35,000. FNY Investment Advisers LLC purchased a new position in Revolve Group in the second quarter worth $118,000. Landscape Capital Management L.L.C. purchased a new position in Revolve Group in the second quarter worth $4,539,000. Intellectus Partners LLC purchased a new position in Revolve Group in the second quarter worth $592,000. Finally, Carillon Tower Advisers Inc. purchased a new position in Revolve Group in the second quarter worth $27,521,000.

Revolve Group Company Profile (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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