Brokerages Set Rent the Runway, Inc. (NASDAQ:RENT) PT at $25.86

Shares of Rent the Runway, Inc. (NASDAQ:RENT) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered 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 research note on Friday, September 6th.

Insider Buying and Selling at Rent the Runway

In related news, CEO Jennifer Hyman sold 6,127 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $10.00, for a total transaction of $61,270.00. Following the sale, the chief executive officer now owns 148,088 shares in the company, valued at approximately $1,480,880. This represents 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 hyperlink. In the last three months, insiders have sold 12,587 shares of company stock worth $125,467. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new position in shares of Rent the Runway in the third quarter valued at $260,000. Nisa Investment Advisors LLC acquired a new stake in Rent the Runway in the second quarter valued at $308,000. XTX Topco Ltd bought a new position in shares of Rent the Runway in the 2nd quarter valued at about $293,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Rent the Runway during the 2nd quarter worth about $227,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Rent the Runway in the 2nd quarter valued at about $131,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

Rent the Runway Price Performance

NASDAQ:RENT opened at $9.63 on Friday. The business’s 50-day simple moving average is $9.85 and its 200-day simple moving average is $15.06. Rent the Runway has a fifty-two week low of $4.46 and a fifty-two week high of $41.81. The stock has a market capitalization of $36.69 million, a PE ratio of -0.37 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) EPS 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 analyst estimates of $76.60 million. During the same quarter last year, the business posted ($8.00) earnings per share. On average, research analysts expect 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.