GSA Capital Partners LLP Purchases Shares of 27,009 Rent the Runway, Inc. (NASDAQ:RENT)

GSA Capital Partners LLP purchased a new stake in shares of Rent the Runway, Inc. (NASDAQ:RENT) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 27,009 shares of the company’s stock, valued at approximately $260,000. GSA Capital Partners LLP owned about 0.71% of Rent the Runway at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RENT. Nisa Investment Advisors LLC bought a new position in shares of Rent the Runway in the 2nd quarter worth approximately $308,000. XTX Topco Ltd bought a new position in shares of Rent the Runway in the 2nd quarter worth approximately $293,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Rent the Runway in the 2nd quarter worth approximately $227,000. Cubist Systematic Strategies LLC bought a new position in shares of Rent the Runway in the 2nd quarter worth approximately $131,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Rent the Runway in the 2nd quarter worth approximately $86,000. Institutional investors own 73.10% of the company’s stock.

Analysts Set New Price Targets

Separately, 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Rent the Runway has a consensus rating of “Moderate Buy” and an average target price of $25.86.

Insider Buying and Selling at Rent the Runway

In other news, CEO Jennifer Hyman sold 6,127 shares of Rent the Runway 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 completion of the sale, the chief executive officer now owns 148,088 shares of the company’s stock, valued at approximately $1,480,880. The trade was a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 12,587 shares of company stock worth $125,467 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Rent the Runway Stock Down 0.8 %

NASDAQ:RENT opened at $9.60 on Friday. The business’s 50-day simple moving average is $9.76 and its two-hundred day simple moving average is $14.94. The stock has a market cap of $36.58 million, a PE ratio of -0.37 and a beta of 1.04. Rent the Runway, Inc. has a 52 week low of $4.46 and a 52 week high of $41.81.

Rent the Runway (NASDAQ:RENT) last issued its 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 firm had revenue of $78.90 million during the quarter, compared to the consensus estimate of $76.60 million. During the same period last year, the firm posted ($8.00) earnings per share. Sell-side analysts anticipate that Rent the Runway, Inc. will post -19.08 earnings per share 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.