XTX Topco Ltd Takes $293,000 Position in Rent the Runway, Inc. (NASDAQ:RENT)

XTX Topco Ltd acquired a new position in Rent the Runway, Inc. (NASDAQ:RENT) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 16,696 shares of the company’s stock, valued at approximately $293,000.

Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in shares of Rent the Runway during the second quarter valued at $33,000. Summit Securities Group LLC acquired a new position in Rent the Runway during the 2nd quarter valued at about $86,000. Nisa Investment Advisors LLC bought a new position in shares of Rent the Runway in the 2nd quarter valued at about $308,000. Finally, CastleKnight Management LP grew its position in shares of Rent the Runway by 304.9% during the 4th quarter. CastleKnight Management LP now owns 545,800 shares of the company’s stock worth $288,000 after buying an additional 411,000 shares during the period. Institutional investors and hedge funds own 73.10% of the company’s stock.

Insider Activity at Rent the Runway

In other Rent the Runway news, CEO Jennifer Hyman sold 6,127 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $10.00, for a total transaction of $61,270.00. Following the sale, the chief executive officer now directly owns 148,088 shares in the company, valued at approximately $1,480,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 18,187 shares of company stock worth $195,670. 6.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on RENT. JMP Securities increased their price objective on shares of Rent the Runway from $20.00 to $40.00 and gave the company a “market outperform” rating in a report on Friday, June 7th. Jefferies Financial Group cut their price target 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Rent the Runway currently has an average rating of “Moderate Buy” and an average target price of $25.86.

Rent the Runway Stock Up 1.9 %

Shares of NASDAQ RENT opened at $10.12 on Friday. Rent the Runway, Inc. has a twelve month low of $4.46 and a twelve month high of $41.81. The stock has a market cap of $37.16 million, a price-to-earnings ratio of -0.34 and a beta of 1.08. The company’s fifty day moving average is $11.98 and its 200-day moving average is $14.87.

Rent the Runway (NASDAQ:RENT) last posted its earnings results 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 business had revenue of $78.90 million for the quarter, compared to the consensus estimate of $76.60 million. During the same quarter in the prior year, the firm posted ($8.00) earnings per share. On average, research analysts anticipate that Rent the Runway, Inc. will post -19.08 EPS for the current fiscal year.

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.