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

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

Separately, JMP Securities raised their price target on shares of Rent the Runway from $20.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th.

Rent the Runway Price Performance

Shares of RENT opened at $13.70 on Friday. The company has a market capitalization of $50.31 million, a PE ratio of -0.46 and a beta of 1.10. Rent the Runway has a one year low of $4.46 and a one year high of $41.81. The company’s fifty day moving average price is $15.27 and its 200 day moving average price is $14.50.

Rent the Runway (NASDAQ:RENT) last announced its earnings results on Thursday, June 6th. The company reported ($6.03) EPS for the quarter, topping the consensus estimate of ($6.56) by $0.53. The firm had revenue of $75.00 million during the quarter, compared to the consensus estimate of $73.20 million. Analysts anticipate that Rent the Runway will post -22.21 earnings per share for the current year.

Insider Buying and Selling

In other Rent the Runway news, CEO Jennifer Hyman sold 4,544 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $11.96, for a total value of $54,346.24. Following the sale, the chief executive officer now owns 154,215 shares of the company’s stock, valued at approximately $1,844,411.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 7,040 shares of company stock valued at $84,200 over the last ninety days. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rent the Runway

Several institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new stake in Rent the Runway in the 2nd quarter valued at $227,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Rent the Runway in the 2nd quarter valued at $72,000. Cubist Systematic Strategies LLC bought a new stake in Rent the Runway in the 2nd quarter valued at $131,000. Point72 DIFC Ltd bought a new stake in Rent the Runway in the 2nd quarter valued at $70,000. Finally, XTX Topco Ltd bought a new stake in Rent the Runway in the 2nd quarter valued at $293,000. Institutional investors own 73.10% of the company’s stock.

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.