3,960 Shares in Rent the Runway, Inc. (NASDAQ:RENT) Bought by Point72 DIFC Ltd

Point72 DIFC Ltd bought a new stake in shares of Rent the Runway, Inc. (NASDAQ:RENT) in the second quarter, Holdings Channel.com reports. The fund bought 3,960 shares of the company’s stock, valued at approximately $70,000.

Other large investors also recently modified their holdings of the company. 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. Nisa Investment Advisors LLC bought a new position in shares of Rent the Runway in the second quarter valued at $308,000. XTX Topco Ltd bought a new position in Rent the Runway during the 2nd quarter valued at $293,000. Susquehanna Fundamental Investments LLC purchased a new position in Rent the Runway during the 2nd quarter worth $227,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Rent the Runway in the 2nd quarter worth $131,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RENT has been the topic of a number of recent analyst reports. JMP Securities raised their price target on shares of 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. Jefferies Financial Group decreased their price objective on shares of Rent the Runway from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Rent the Runway has a consensus rating of “Moderate Buy” and a consensus target price of $25.86.

Insider Buying and Selling at Rent the Runway

In other news, CEO Jennifer Hyman sold 4,544 shares of the stock in a transaction on Monday, August 5th. The stock was 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 owns 154,215 shares in the company, valued at approximately $1,844,411.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 18,187 shares of company stock worth $195,670 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Rent the Runway Stock Performance

NASDAQ RENT opened at $9.26 on Thursday. The company has a market capitalization of $35.28 million, a PE ratio of -0.31 and a beta of 1.08. Rent the Runway, Inc. has a 52-week low of $4.46 and a 52-week high of $41.81. The company has a 50-day simple moving average of $11.58 and a 200 day simple moving average of $14.97.

Rent the Runway (NASDAQ:RENT) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($4.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($5.86) by $1.69. The company had revenue of $78.90 million for the quarter, compared to analysts’ expectations of $76.60 million. During the same quarter in the previous year, the business earned ($8.00) EPS. As a group, analysts forecast that Rent the Runway, Inc. will post -19.08 EPS for the current fiscal 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.