Rent the Runway, Inc. (NASDAQ:RENT – Get Free Report) insider Sarah K. Tam sold 1,394 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $10.00, for a total transaction of $13,940.00. Following the completion of the transaction, the insider now directly owns 32,315 shares of the company’s stock, valued at $323,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Rent the Runway Trading Down 5.9 %
Shares of Rent the Runway stock traded down $0.60 during midday trading on Wednesday, reaching $9.62. The company had a trading volume of 93,460 shares, compared to its average volume of 555,824. The company has a market capitalization of $35.32 million, a price-to-earnings ratio of -0.32 and a beta of 1.08. Rent the Runway, Inc. has a 1-year low of $4.46 and a 1-year high of $41.81. The stock has a fifty day simple moving average of $13.31 and a 200 day simple moving average of $14.85.
Rent the Runway (NASDAQ:RENT – Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The company reported ($4.17) earnings per share for the quarter, topping the consensus estimate of ($5.86) by $1.69. The firm had revenue of $78.90 million for the quarter, compared to the consensus estimate of $76.60 million. During the same period in the previous year, the business earned ($8.00) EPS. Sell-side analysts expect that Rent the Runway, Inc. will post -19.08 earnings per share for the current year.
Institutional Inflows and Outflows
Analysts Set New Price Targets
Several research firms have recently weighed in on RENT. Jefferies Financial Group reduced their price objective on Rent the Runway from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. JMP Securities increased their price target on Rent the Runway from $20.00 to $40.00 and gave the company a “market outperform” rating in a report on Friday, June 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.86.
Read Our Latest Research Report on RENT
About Rent the Runway
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.
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