Key Points
- Director Dhiren Fonseca sold 13,000 Rent the Runway shares at an average price of $1.70, totaling $22,100 and reducing his position by 50%.
- Rent the Runway shares opened at $1.61, near their 52-week low of $1.53, while the company reported a quarterly loss of $0.38 per share on $97.7 million in revenue.
- Analyst sentiment remains negative: Weiss Ratings reiterated a “sell” rating, and the stock has a consensus “Sell” rating despite institutional ownership of 73.1%.
Rent the Runway, Inc. (NASDAQ:RENT - Get Free Report) Director Dhiren Fonseca sold 13,000 shares of Rent the Runway stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $1.70, for a total value of $22,100.00. Following the transaction, the director owned 13,000 shares in the company, valued at approximately $22,100. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Rent the Runway Stock Performance
NASDAQ RENT opened at $1.61 on Tuesday. The stock's fifty day moving average is $3.14 and its two-hundred day moving average is $3.79. The firm has a market capitalization of $54.37 million, a P/E ratio of 0.13 and a beta of 1.18. Rent the Runway, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $10.13.
Rent the Runway (NASDAQ:RENT - Get Free Report) last posted its quarterly earnings results on Friday, September 11th. The company reported ($0.38) EPS for the quarter. The firm had revenue of $97.70 million during the quarter.
Institutional Trading of 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) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 197,481 shares of the company's stock, valued at approximately $622,065. Rent the Runway accounts for 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 quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Rent the Runway in a report on Monday, September 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Rent the Runway presently has a consensus rating of "Sell".
Read Our Latest Analysis on RENT
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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