Rent the Runway, Inc. (NASDAQ:RENT) Receives $25.00 Average PT from Brokerages

Rent the Runway, Inc. (NASDAQ:RENT) has earned a consensus rating of “Hold” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $25.00.

Separately, JMP Securities boosted their price target on shares of Rent the Runway from $20.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Friday, June 7th.

Rent the Runway Stock Down 1.2 %

NASDAQ:RENT opened at $12.58 on Friday. The company has a market capitalization of $46.19 million, a P/E ratio of -0.42 and a beta of 1.10. Rent the Runway has a 52 week low of $4.46 and a 52 week high of $41.81. The stock’s fifty day moving average is $15.00 and its two-hundred day moving average is $14.58.

Rent the Runway (NASDAQ:RENT) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($6.03) EPS for the quarter, topping the consensus estimate of ($6.56) by $0.53. The company had revenue of $75.00 million during the quarter, compared to analyst estimates of $73.20 million. Sell-side analysts anticipate that Rent the Runway will post -22.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jennifer Hyman sold 4,544 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $11.96, for a total transaction of $54,346.24. Following the completion of the sale, the chief executive officer now owns 154,215 shares in the company, valued at approximately $1,844,411.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 7,040 shares of company stock valued at $84,200 in the last ninety days. Insiders own 6.60% of the company’s stock.

Institutional Trading of Rent the Runway

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in Rent the Runway in the 2nd quarter valued at $33,000. Breed s Hill Capital LLC acquired a new position in Rent the Runway in the fourth quarter valued at $53,000. Point72 DIFC Ltd purchased a new stake in shares of Rent the Runway in the second quarter valued at about $70,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Rent the Runway during the second quarter worth about $72,000. Finally, Summit Securities Group LLC purchased a new position in shares of Rent the Runway during the second quarter worth about $86,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

Rent the Runway Company Profile

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.