Revolve Group (NASDAQ:RVLV) Trading Down 9.4%

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Revolve Group (NASDAQ:RVLV) shares traded down 9.4% during trading on Friday . The company traded as low as $23.00 and last traded at $23.01, 1,762,463 shares were traded during trading. A decline of 6% from the average session volume of 1,882,705 shares. The stock had previously closed at $25.41.

A number of research analysts recently commented on the company. Guggenheim restated a “buy” rating and set a $50.00 price objective on shares of Revolve Group in a research note on Friday, August 9th. Credit Suisse Group assumed coverage on Revolve Group in a research note on Tuesday, July 2nd. They set an “outperform” rating and a $40.00 price objective for the company. Barclays assumed coverage on Revolve Group in a research note on Tuesday, July 2nd. They set an “equal weight” rating and a $32.00 price objective for the company. Morgan Stanley assumed coverage on Revolve Group in a research note on Tuesday, July 2nd. They set an “overweight” rating and a $39.00 price objective for the company. Finally, Cowen assumed coverage on Revolve Group in a research note on Tuesday, July 2nd. They set an “outperform” rating and a $42.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Revolve Group currently has an average rating of “Buy” and an average price target of $42.63.

The business has a 50 day simple moving average of $32.12.

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

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

Large investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Revolve Group in the second quarter worth $35,000. FNY Investment Advisers LLC bought a new position in shares of Revolve Group in the second quarter worth $118,000. Lisanti Capital Growth LLC bought a new position in shares of Revolve Group in the second quarter worth $3,272,000. Sfmg LLC bought a new position in shares of Revolve Group in the second quarter worth $201,000. Finally, CenterStar Asset Management LLC bought a new position in shares of Revolve Group in the second quarter worth $56,000.

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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