On December 2, MMMK Development sold 70,462 shares at an average price of $35.7, followed by an additional 19,804 shares at an average price of $36.16. The next day, December 3, the company sold 65,138 shares at an average price of $35.22 and another 11,764 shares at $36.24. The final sales occurred on December 4, with 67,196 shares sold at an average price of $34.62 and 31,233 shares at $35.41. These transactions were part of a pre-determined trading plan adopted by MMMK Development on August 15, 2024, under Rule 10b5-1, allowing insiders to set up a trading plan for selling stocks at a predetermined time. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with multiple valuation metrics showing elevated levels. Following these sales, MMMK Development does not hold any shares of Revolve Group (NYSE:RVLV), Inc.
On December 2, MMMK Development sold 70,462 shares at an average price of $35.7, followed by an additional 19,804 shares at an average price of $36.16. The next day, December 3, the company sold 65,138 shares at an average price of $35.22 and another 11,764 shares at $36.24. The final sales occurred on December 4, with 67,196 shares sold at an average price of $34.62 and 31,233 shares at $35.41.
These transactions were part of a pre-determined trading plan adopted by MMMK Development on August 15, 2024, under Rule 10b5-1, allowing insiders to set up a trading plan for selling stocks at a predetermined time. Following these sales, MMMK Development does not hold any shares of Revolve Group, Inc.
In other recent news, Revolve Group Inc. has recorded significant growth in its Q3 2024 earnings with net sales increasing by 10% year-over-year to reach $283 million. The company's net income also saw a considerable rise, reaching $11 million or $0.15 per diluted share, a substantial increase from the $3 million reported in the same quarter of the previous year. Adjusted EBITDA also grew by 85% to reach $18 million.
KeyBanc has reiterated its Sector Weight rating for Revolve Group, following an observed increase in promotional activity post Black Friday. The firm noted that approximately 61% of items on the core Revolve platform are discounted as of December 2, 2024. Despite the deep markdowns, the total SKU count on Revolve's website has grown by approximately 9% year-to-date, aligning inventory growth with net sales growth for the fourth quarter.
Revolve's co-CEOs, Mike Karanikolas and Michael Mente, attribute this growth to improved logistics, decreased return rates, and strong performance in key categories such as Fashion Apparel and Dresses. The company has also been investing in AI technology, international expansion, and marketing initiatives, contributing to its positive outlook. The company plans to open a Revolve Holiday Shop and a flagship store by mid-2025. 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.
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