Rent the Runway, Inc. (NASDAQ:RENT - Get Free Report) SVP Becky Case sold 907 shares of the firm's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.28, for a total transaction of $11,137.96. Following the completion of the transaction, the senior vice president now directly owns 30,379 shares in the company, valued at $373,054.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Rent the Runway Trading Up 1.0 %
Shares of RENT opened at $14.49 on Tuesday. The company's 50-day moving average price is $9.03 and its 200 day moving average price is $10.70. Rent the Runway, Inc. has a 12-month low of $4.46 and a 12-month high of $58.00. The firm has a market cap of $53.18 million, a P/E ratio of -0.44 and a beta of 0.49.
Rent the Runway (NASDAQ:RENT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 10th. The company reported ($5.83) EPS for the quarter, missing the consensus estimate of ($5.80) by ($0.03). The firm had revenue of $75.80 million for the quarter, compared to analysts' expectations of $74.50 million. Equities research analysts forecast that Rent the Runway, Inc. will post -20.2 earnings per share for the current year.
Analyst Ratings Changes
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A number of research firms have weighed in on RENT. JMP Securities decreased their target price on shares of Rent the Runway from $40.00 to $20.00 and set a "market outperform" rating on the stock in a research note on Thursday, April 11th. Wells Fargo & Company reiterated an "equal weight" rating and set a $12.00 price objective on shares of Rent the Runway in a research report on Tuesday, January 16th. Piper Sandler restated a "neutral" rating and issued a $15.00 target price (down from $40.00) on shares of Rent the Runway in a report on Wednesday, January 17th. Finally, The Goldman Sachs Group reduced their price target on Rent the Runway from $40.00 to $28.00 and set a "buy" rating on the stock in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $31.88.
Read Our Latest Report on Rent the Runway
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its holdings in shares of Rent the Runway by 119.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 55,250 shares of the company's stock valued at $38,000 after buying an additional 30,050 shares during the period. Panagora Asset Management Inc. acquired a new position in Rent the Runway in the 3rd quarter valued at about $46,000. Breed s Hill Capital LLC purchased a new stake in Rent the Runway during the fourth quarter worth about $53,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Rent the Runway during the third quarter worth about $66,000. Finally, CastleKnight Management LP boosted its stake in shares of Rent the Runway by 304.9% in the fourth quarter. CastleKnight Management LP now owns 545,800 shares of the company's stock valued at $288,000 after purchasing an additional 411,000 shares during the period. 73.10% of the stock is currently owned by hedge funds and other institutional investors.
Rent the Runway Company Profile
(
Get Free Report)
Rent the Runway, Inc operates shared designer closet in the United States. The company offers evening wear and accessories, ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, and ski wear under subscription, rental, and resale offering.
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