Rent the Runway, Inc. (NASDAQ:RENT - Get Free Report) insider Sarah K. Tam sold 1,960 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.55, for a total transaction of $16,758.00. Following the sale, the insider now owns 30,024 shares in the company, valued at approximately $256,705.20. This trade represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Rent the Runway Trading Down 7.9 %
Shares of RENT stock opened at $8.03 on Thursday. The company has a market cap of $31.17 million, a P/E ratio of -0.36 and a beta of 1.18. The firm has a fifty day moving average price of $9.97 and a 200 day moving average price of $12.98. Rent the Runway, Inc. has a 12 month low of $4.46 and a 12 month high of $41.81.
Rent the Runway (NASDAQ:RENT - Get Free Report) last announced its quarterly earnings results on Monday, December 9th. The company reported ($4.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($4.45) by ($0.49). During the same period in the prior year, the firm earned ($8.86) earnings per share. On average, equities analysts forecast that Rent the Runway, Inc. will post -18.61 EPS for the current year.
Hedge Funds Weigh In On Rent the Runway
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new stake in Rent the Runway during the third quarter worth approximately $260,000. Nisa Investment Advisors LLC acquired a new position in shares of Rent the Runway in the 2nd quarter valued at $308,000. Meeder Asset Management Inc. purchased a new position in shares of Rent the Runway in the 2nd quarter valued at $33,000. Point72 DIFC Ltd acquired a new stake in Rent the Runway during the 2nd quarter worth $70,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Rent the Runway in the second quarter valued at $131,000. 73.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on RENT. JMP Securities reiterated a "market outperform" rating and issued a $40.00 price objective on shares of Rent the Runway in a research note on Tuesday, December 10th. Jefferies Financial Group decreased their price objective on 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $24.20.
Check Out Our Latest Report on RENT
About Rent the Runway
(
Get Free Report)
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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