Key Points
- Director Dhiren Fonseca sold 25,132 Rent the Runway shares at an average price of $1.94, generating approximately $48,756; his remaining 75,000-share stake represents a 25.1% reduction in ownership.
- Rent the Runway reported a quarterly loss of $0.38 per share on revenue of $97.7 million. The stock opened at $1.94, near its one-year low of $1.75 and well below its one-year high of $10.13.
- MarketBeat reports an average analyst rating of “Sell,” while Technology Crossover Management VIII recently acquired 197,481 shares; institutional investors collectively own 73.1% of the company.
Rent the Runway, Inc. (NASDAQ:RENT - Get Free Report) Director Dhiren Fonseca sold 25,132 shares of the business's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $1.94, for a total transaction of $48,756.08. Following the completion of the transaction, the director directly owned 75,000 shares in the company, valued at $145,500. This represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Rent the Runway Stock Performance
Shares of Rent the Runway stock opened at $1.94 on Thursday. The company has a market cap of $65.16 million, a P/E ratio of 0.15 and a beta of 1.18. Rent the Runway, Inc. has a one year low of $1.75 and a one year high of $10.13. The firm has a fifty day moving average of $3.38 and a two-hundred day moving average of $3.98.
Rent the Runway (NASDAQ:RENT - Get Free Report) last issued its earnings results on Friday, September 11th. The company reported ($0.38) earnings per share for the quarter. The firm had revenue of $97.70 million for the quarter.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Rent the Runway in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Rent the Runway presently has an average rating of "Sell".
Check Out Our Latest Stock Analysis on Rent the Runway
Hedge Funds Weigh In On Rent the Runway
An institutional investor recently bought a new position in Rent the Runway stock. Technology Crossover Management VIII Ltd. bought a new stake in Rent the Runway, Inc. (NASDAQ:RENT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 197,481 shares of the company's stock, valued at approximately $622,065. Rent the Runway comprises approximately 0.0% of Technology Crossover Management VIII Ltd.'s investment portfolio, making the stock its 4th largest holding. Technology Crossover Management VIII Ltd. owned about 0.59% of Rent the Runway at the end of the most recent reporting period. Institutional investors and hedge funds own 73.10% of the company's stock.
About Rent the Runway
(
Get Free Report)
Rent the Runway, Inc is a fashion technology company that operates an online platform for renting designer apparel and accessories. Customers can access clothing, handbags, jewelry and other fashion items through subscription-based plans or individual rental orders, allowing them to wear products for specific occasions without purchasing them outright.
The company's offerings include designer dresses, workwear, casual apparel, outerwear and accessories for women. Rent the Runway manages the rental process through its digital platform, including product selection, fulfillment, cleaning and returns.
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