Rent the Runway, Inc. (NASDAQ:RENT – Get Free Report) insider Sarah K. Tam sold 1,394 shares of Rent the Runway stock in a transaction on Monday, September 16th. The shares were sold at an average price of $10.00, for a total value of $13,940.00. Following the completion of the sale, the insider now directly owns 32,315 shares of the company’s stock, valued at $323,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Rent the Runway Trading Down 5.9 %
Shares of RENT stock traded down $0.60 on Wednesday, reaching $9.62. 93,460 shares of the stock were exchanged, compared to its average volume of 555,824. Rent the Runway, Inc. has a twelve month low of $4.46 and a twelve month high of $41.81. The company has a market capitalization of $35.32 million, a price-to-earnings ratio of -0.32 and a beta of 1.08. The business’s 50 day moving average price is $13.31 and its 200 day moving average price is $14.85.
Rent the Runway (NASDAQ:RENT – Get Free Report) last issued 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 company had revenue of $78.90 million for the quarter, compared to analysts’ expectations of $76.60 million. During the same quarter in the prior year, the firm posted ($8.00) EPS. Equities research analysts forecast that Rent the Runway, Inc. will post -19.08 earnings per share for the current year.
Hedge Funds Weigh In On Rent the Runway
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Jefferies Financial Group dropped 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 report on Friday, September 6th. JMP Securities boosted their price target on shares of Rent the Runway from $20.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Friday, June 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.86.
Check Out Our Latest Report on RENT
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.
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