1,893 Shares in Rent the Runway, Inc. (NASDAQ:RENT) Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. purchased a new position in shares of Rent the Runway, Inc. (NASDAQ:RENT) in the second quarter, according to its most recent filing with the SEC. The firm purchased 1,893 shares of the company’s stock, valued at approximately $33,000.

Several other hedge funds have also recently made changes to their positions in RENT. CastleKnight Management LP grew its stake in Rent the Runway by 304.9% during the fourth quarter. CastleKnight Management LP now owns 545,800 shares of the company’s stock worth $288,000 after purchasing an additional 411,000 shares during the period. Nisa Investment Advisors LLC bought a new stake in shares of Rent the Runway in the 2nd quarter valued at $308,000. Finally, Summit Securities Group LLC acquired a new position in shares of Rent the Runway during the 2nd quarter valued at $86,000. 73.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RENT shares. Jefferies Financial Group reduced their price target on shares of Rent the Runway from $34.00 to $26.00 and set a “buy” rating for the company in a report on Friday, September 6th. JMP Securities boosted their target price 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 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.86.

Insider Buying and Selling

In other news, CEO Jennifer Hyman sold 4,544 shares of the 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 transaction, the chief executive officer now directly owns 154,215 shares of the company’s stock, valued at approximately $1,844,411.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 7,040 shares of company stock worth $84,200. 6.60% of the stock is owned by company insiders.

Rent the Runway Trading Up 4.5 %

NASDAQ RENT opened at $10.43 on Monday. The company has a fifty day moving average price of $13.57 and a 200-day moving average price of $14.82. Rent the Runway, Inc. has a 1 year low of $4.46 and a 1 year high of $41.81.

Rent the Runway (NASDAQ:RENT) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($4.17) EPS for the quarter, beating the consensus estimate of ($5.86) by $1.69. The firm had revenue of $78.90 million during the quarter, compared to analysts’ expectations of $76.60 million. During the same quarter last year, the business posted ($8.00) EPS. Equities research analysts forecast that Rent the Runway, Inc. will post -19.08 EPS for the current year.

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.