MMMK Development, Inc., a significant shareholder in Revolve Group Inch. (NYSE:), reported the sale of approximately $5.86 million worth of stock, according to its most recent filing with the SEC. The transactions, which took place over several days in January 2025, included multiple sales of the company’s Class A common stock. According to InvestingPro analysis, RVLV appears to be overvalued at current levels, with the stock experiencing significant volatility and down 13% in the past week.
On January 7, MMMK Development sold 76,933 shares at an average price of $30.46 per share and an additional 1,272 shares at $31.24 per share. The next day, January 8, 43,633 shares were sold at $30.48 per share, along with 2,354 shares at $30.83 per share. Finally, on January 10, the company sold 49,814 shares at $29.53 per share and 19,791 shares at $30.37 per share. Despite recent selling pressure, Revolve Group maintains strong financial health with a current ratio of 2.71 and more cash than debt on its balance sheet.
These sales were made as part of a trading plan adopted by MMMK Development pursuant to Rule 10b5-1, which allows insiders to set a predetermined plan for selling shares. The sale was made in multiple transactions within the given price ranges, ensuring compliance with regulatory requirements.
Following these transactions, MMMK Development no longer holds any direct shares of Revolve Group Class A common stock.
In other recent news, Revolve Group Inc. reported strong results in the third quarter of 2024, with net sales up 10% year over year to $283 million. The company’s net income also saw a significant increase, reaching $11 million, or $0.15 per share, a significant increase over the $3 million reported in the same quarter last year. Adjusted EBITDA also increased 85% to $18 million. KeyBanc reiterated its Sector Weight Rating for Revolve and noted an increase in promotional activity following Black Friday, with approximately 61% of items on Revolve’s core platform on discount as of December 2, 2024. The total number of SKUs on Revolve’s website increased approximately 9%. since the beginning of the year, with a significant increase in the first week of August. Despite a projected slight decline in gross margin in the fourth quarter due to cutbacks and transportation costs, company management remains optimistic about Revolve’s trajectory. The company has also invested in AI technology, international expansion and marketing initiatives, which have contributed to its positive outlook. As for future expectations, the company plans to open the Revolve Holiday Shop and flagship store by mid-2025. These are the latest events in the company.
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