Rent the Runway, Inc. (NASDAQ:RENT) Given Consensus Rating of “Hold” by Analysts

Rent the Runway, Inc. (NASDAQ:RENT) has received an average rating of “Hold” from the eight research firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $25.00.

Several equities research analysts have recently issued reports on the stock. JMP Securities raised their price objective 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. The Goldman Sachs Group lowered their price objective on shares of Rent the Runway from $40.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, April 12th.

Rent the Runway Stock Down 4.7 %

Shares of RENT stock opened at $21.89 on Tuesday. The business’s 50 day moving average is $19.47 and its two-hundred day moving average is $13.52. The company has a market cap of $80.38 million, a PE ratio of -0.73 and a beta of 1.20. Rent the Runway has a 12 month low of $4.46 and a 12 month high of $51.20.

Rent the Runway (NASDAQ:RENT) last announced its quarterly earnings data on Thursday, June 6th. The company reported ($6.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($6.56) by $0.53. The company had revenue of $75.00 million during the quarter, compared to analyst estimates of $73.20 million. As a group, equities analysts expect that Rent the Runway will post -22.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jennifer Hyman sold 7,770 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $7.00, for a total value of $54,390.00. Following the completion of the transaction, the chief executive officer now directly owns 169,486 shares of the company’s stock, valued at $1,186,402. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 16,979 shares of company stock valued at $150,993 over the last ninety days. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Breed s Hill Capital LLC bought a new position in shares of Rent the Runway during the fourth quarter valued at $53,000. CastleKnight Management LP lifted its holdings in shares of Rent the Runway by 304.9% during the fourth quarter. CastleKnight Management LP now owns 545,800 shares of the company’s stock valued at $288,000 after acquiring an additional 411,000 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Rent the Runway during the fourth quarter valued at $1,568,000. 73.10% of the stock is owned by institutional investors.

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.