MMMK Development, Inc., a significant shareholder in Revolve Group , Inc. (NYSE:RVLV), reported selling shares worth approximately $5.86 million, according to a recent SEC filing. The transactions, which took place over several days in January 2025, involved multiple sales of the company's Class A common stock. According to InvestingPro analysis, RVLV appears overvalued at current levels, with the stock experiencing significant volatility and a 13% decline 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 following day, January 8, saw the sale of 43,633 shares 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 executed as part of a trading plan adopted by MMMK Development under Rule 10b5-1, which allows insiders to set up a predetermined plan to sell stocks. The sales were carried out in multiple transactions within specified price ranges, ensuring compliance with regulatory requirements.
Following these transactions, MMMK Development no longer holds any direct shares of Revolve Group's Class A common stock.
In other recent news, Revolve Group Inc. has reported strong Q3 2024 results, with net sales rising 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 diluted share, a notable rise from the $3 million reported in the same quarter of the previous year. Adjusted EBITDA also grew by 85% to reach $18 million. KeyBanc reiterated its Sector Weight rating for Revolve and observed an increase in promotional activity following Black Friday, with approximately 61% of items on the core Revolve platform discounted as of December 2, 2024. The total SKU count on Revolve's website has grown by approximately 9% year-to-date, with a notable increase in the first week of August. Despite a projected slight decline in Q4 gross margin due to markdowns and freight costs, the company's management remains optimistic about Revolve's trajectory. The company has also been investing in AI technology, international expansion, and marketing initiatives, which have contributed to its positive outlook. In terms of future expectations, the company plans to open a Revolve Holiday Shop and a flagship store by mid-2025. These are the recent developments in the company.
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