Rent the Runway, Inc. (NASDAQ:RENT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Rent the Runway, Inc. (NASDAQ:RENT) have been given an average rating of “Moderate Buy” by the seven research firms that are covering the firm, 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 twelve-month price objective among brokers that have issued a report on the stock in the last year is $25.86.

Separately, Jefferies Financial Group reduced their target price 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.

Insider Activity at Rent the Runway

In other news, CEO Jennifer Hyman sold 6,127 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $10.00, for a total value of $61,270.00. Following the sale, the chief executive officer now directly owns 148,088 shares of the company’s stock, valued at $1,480,880. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 11,147 shares of company stock worth $111,470 over the last quarter. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Rent the Runway in the third quarter valued at approximately $260,000. Point72 DIFC Ltd purchased a new stake in Rent the Runway in the 2nd quarter worth $70,000. Cubist Systematic Strategies LLC purchased a new stake in Rent the Runway in the 2nd quarter worth $131,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Rent the Runway during the second quarter worth $72,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Rent the Runway during the second quarter valued at $227,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Rent the Runway Trading Down 1.4 %

RENT opened at $9.49 on Friday. The company has a market capitalization of $36.16 million, a price-to-earnings ratio of -0.36 and a beta of 1.04. Rent the Runway has a 12-month low of $4.46 and a 12-month high of $41.81. The business’s fifty day simple moving average is $10.27 and its 200-day simple moving average is $15.16.

Rent the Runway (NASDAQ:RENT) last posted its earnings results on Thursday, September 5th. The company reported ($4.17) EPS for the quarter, beating analysts’ consensus estimates of ($5.86) by $1.69. The business had revenue of $78.90 million for the quarter, compared to analysts’ expectations of $76.60 million. During the same period last year, the business posted ($8.00) EPS. On average, equities research analysts predict that Rent the Runway will post -19.08 EPS for the current 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.