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

Rent the Runway, Inc. (NASDAQ:RENT) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $25.86.

Separately, Jefferies Financial Group lowered their price target on Rent the Runway from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, September 6th.

Rent the Runway Stock Performance

NASDAQ RENT opened at $10.57 on Monday. The stock has a market capitalization of $40.27 million, a price-to-earnings ratio of -0.40 and a beta of 1.04. The stock’s 50 day moving average price is $10.89 and its two-hundred day moving average price is $15.14. Rent the Runway has a 52 week low of $4.46 and a 52 week high of $41.81.

Rent the Runway (NASDAQ:RENT) last released its earnings results on Thursday, September 5th. The company reported ($4.17) EPS for the quarter, beating 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 quarter in the previous year, the firm posted ($8.00) EPS. On average, equities research analysts forecast that Rent the Runway will post -19.08 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jennifer Hyman sold 4,544 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $11.96, for a total transaction of $54,346.24. Following the transaction, the chief executive officer now directly owns 154,215 shares of the company’s stock, valued at approximately $1,844,411.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 18,187 shares of company stock valued at $195,670. 6.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RENT. Meeder Asset Management Inc. acquired a new position in Rent the Runway in the 2nd quarter valued at $33,000. Point72 DIFC Ltd bought a new stake in shares of Rent the Runway during the 2nd quarter valued at $70,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Rent the Runway during the 2nd quarter valued at $72,000. Summit Securities Group LLC bought a new stake in shares of Rent the Runway during the 2nd quarter valued at $86,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Rent the Runway during the 2nd quarter valued at $131,000. 73.10% of the stock is owned by institutional investors and hedge funds.

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.