Revolve Group (NYSE:RVLV) shares shot up 5.6% during mid-day trading on Wednesday . The stock traded as high as $18.01 and last traded at $17.59, 1,485,150 shares traded hands during trading. A decline of 0% from the average session volume of 1,489,008 shares. The stock had previously closed at $16.66.
Several brokerages have issued reports on RVLV. Morgan Stanley lowered their target price on shares of Revolve Group from $37.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Raymond James lowered their price target on shares of Revolve Group from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. They noted that the move was a valuation call. Robert W. Baird initiated coverage on shares of Revolve Group in a research report on Tuesday, November 12th. They set an “outperform” rating and a $26.00 price target on the stock. Jefferies Financial Group boosted their price target on shares of Revolve Group from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Guggenheim reissued a “buy” rating and set a $50.00 price target on shares of Revolve Group in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Revolve Group presently has a consensus rating of “Buy” and an average target price of $36.70.
The firm’s 50-day moving average price is $18.59.
Hedge funds and other institutional investors have recently bought and sold shares of the business. CenterStar Asset Management LLC acquired a new position in Revolve Group in the second quarter valued at about $56,000. Steward Partners Investment Advisory LLC increased its stake in Revolve Group by 346.7% during the third quarter. Steward Partners Investment Advisory LLC now owns 2,680 shares of the company’s stock worth $62,000 after purchasing an additional 2,080 shares during the period. First Mercantile Trust Co. purchased a new stake in Revolve Group during the third quarter worth about $115,000. Gs Investments Inc. purchased a new stake in Revolve Group during the second quarter worth about $178,000. Finally, Sfmg LLC purchased a new stake in Revolve Group during the second quarter worth about $201,000. 25.54% of the stock is currently owned by institutional investors.
About Revolve Group (NYSE: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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