Michael Karanikolas, co-CEO of the company Revolve Group Inch. (NYSE: ), a $2.08 billion market cap company currently trading at $29.30, recently made a number of stock transactions, according to its most recent SEC filings. InvestingPro analysis shows that the stock is currently overvalued. On January 7, it sold 76,933 shares of Class A common stock at a weighted average price of $30.46. In addition, he sold another 1,272 shares at a weighted average price of $31.24. The next day, on January 8, Karanikolas sold 43,633 shares at a weighted average price of $30.48 and 2,354 shares at $30.83. On January 10, he sold 49,814 shares at $29.53 and 19,791 shares at $30.37. These transactions were made pursuant to a Rule 10b5-1 trading plan adopted by MMMK Development, Inc., a company in which Karanikolas has split voting and distribution rights. The total value of this sale was approximately $5.86 million. The stock has seen significant volatility recently, falling 13.19% over the past week and trading between $13.96 and $39.58 over the past 52 weeks. For a deeper look at the RVLV valuation and 16 additional key metrics, visit InvestingPro.
In other recent news, Revolve Group Inc. showed a strong performance in the third quarter of 2024, with net sales increasing 10% year-over-year to reach $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 on Revolve, noting an increase in promotional activity after Black Friday. About 61% of items on Revolve’s platform have been marked down since December 2, 2024, down slightly from a mid-October peak of around 62%, but up from around 57% at the same time last year. Despite the large reduction, the total number of SKUs on Revolve’s website is up approximately 9% year-to-date. Looking ahead, the company plans to open the Revolve Holiday Shop and flagship store by mid-2025. Although inventory levels are currently higher than desired, alignment with sales growth is expected by the fourth quarter. Ultimately, despite an anticipated slight decline in gross margin in the fourth quarter due to impairments and transportation costs, company management remains optimistic about Revolve’s trajectory.
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