Rent the Runway, Inc. (NASDAQ:RENT – Get Free Report) SVP Zachary Benjamin Phillips sold 974 shares of the company’s stock on Monday, August 5. The shares were sold at an average price of $11.96, for a total transaction of $11,649.04. Following the transaction, the senior vice president now owns 17,994 shares of the company’s stock, valued at $215,208.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Rent the Runway shares rise 4.4%
NASDAQ:RENT shares opened at $10.60 on Friday. The company’s 50-day moving average is $17.93 and its 200-day moving average is $14.46. Rent the Runway, Inc. has a 52-week low of $4.46 and a 52-week high of $41.81. The stock has a market cap of $38.90 million, a P/E ratio of -0.35 and a beta of 1.10.
Rent the Runway (NASDAQ:RENT – Free Report) last released its earnings results on Thursday, June 6. The company reported earnings per share of -$6.03 for the quarter, beating analysts’ consensus estimates of -$6.56 by $0.53. The company had revenue of $75.00 million during the quarter, compared to the consensus estimate of $73.20 million. Sell-side analysts expect that Rent the Runway, Inc. will report earnings per share of -$22.21 for the current year.
Upgrades and downgrades by analysts
Several equities analysts have recently commented on RENT shares. Goldman Sachs Group decreased their price target on Rent the Runway from $40.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, April 12. JMP Securities raised their price target on Rent the Runway from $20.00 to $40.00 and gave the company a “market outperform” rating in a research report on Friday, June 7. Five research analysts have rated the stock with a “hold” rating and three have given a “buy” rating. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.00.
Check out our latest analysis on Rent the Runway
Institutional trading with Rent the Runway
A number of institutional investors have recently made changes to their positions in RENT. Meeder Asset Management Inc. acquired a new stake in Rent the Runway in the 2nd quarter valued at $33,000. Breed s Hill Capital LLC acquired a new stake in Rent the Runway in the fourth quarter valued at about $53,000. Summit Securities Group LLC acquired a new stake in Rent the Runway in the second quarter valued at about $86,000. CastleKnight Management LP increased its stake in 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 acquiring an additional 411,000 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in Rent the Runway in the second quarter valued at about $308,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.
Rent the Runway Company Profile
(Get free report)
Rent the Runway, Inc. operates a shared designer closet in the United States. The company offers formal wear and accessories, ready-to-wear, workwear, denim, casual wear, maternity wear, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear and skiwear by subscription, rental and resale.
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