Rent the Runway, Inc. (NASDAQ:RENT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Rent the Runway, Inc. (NASDAQ:RENT) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $25.86.

Separately, Jefferies Financial Group dropped their target price on shares of Rent the Runway from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, September 6th.

Insider Transactions at Rent the Runway

In related news, CEO Jennifer Hyman sold 6,127 shares of the business’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 transaction, the chief executive officer now directly owns 148,088 shares of the company’s stock, valued at approximately $1,480,880. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 18,187 shares of company stock valued at $195,670 over the last three months. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC bought a new stake in shares of Rent the Runway in the 2nd quarter valued at approximately $308,000. Meeder Asset Management Inc. bought a new stake in Rent the Runway in the second quarter worth approximately $33,000. Point72 DIFC Ltd acquired a new position in shares of Rent the Runway during the 2nd quarter worth $70,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Rent the Runway during the 2nd quarter valued at $227,000. Finally, XTX Topco Ltd acquired a new stake in shares of Rent the Runway in the 2nd quarter valued at $293,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Rent the Runway Stock Performance

NASDAQ RENT opened at $10.11 on Monday. Rent the Runway has a 1 year low of $4.46 and a 1 year high of $41.81. The business’s fifty day moving average is $10.96 and its two-hundred day moving average is $15.16. The stock has a market capitalization of $37.12 million, a P/E ratio of -0.34 and a beta of 1.04.

Rent the Runway (NASDAQ:RENT) last announced its earnings results on Thursday, September 5th. The company reported ($4.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($5.86) by $1.69. The company had revenue of $78.90 million for the quarter, compared to analyst estimates of $76.60 million. During the same period last year, the firm earned ($8.00) earnings per share. On average, research analysts forecast that Rent the Runway will post -19.08 earnings per share 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.