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

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

Several brokerages have recently commented on RENT. JMP Securities upped their price target on Rent the Runway from $20.00 to $40.00 and gave the company a “market outperform” rating in a research note on Friday, June 7th. The Goldman Sachs Group decreased their price target on 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.

Insider Activity at Rent the Runway

In other Rent the Runway news, CEO Jennifer Hyman sold 4,600 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.28, for a total transaction of $56,488.00. Following the sale, the chief executive officer now owns 164,884 shares in the company, valued at approximately $2,024,775.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 6,087 shares of company stock worth $74,749. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rent the Runway

Large investors have recently bought and sold shares of the stock. Breed s Hill Capital LLC purchased a new stake in Rent the Runway during the 4th quarter worth about $53,000. CastleKnight Management LP increased its holdings in Rent the Runway by 304.9% during the 4th quarter. CastleKnight Management LP now owns 545,800 shares of the company’s stock worth $288,000 after purchasing an additional 411,000 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Rent the Runway during the 4th quarter worth about $1,568,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Rent the Runway Stock Up 0.5 %

Shares of Rent the Runway stock opened at $17.26 on Friday. Rent the Runway has a 52 week low of $4.46 and a 52 week high of $41.81. The business’s fifty day simple moving average is $21.56 and its 200-day simple moving average is $13.99. The firm has a market cap of $63.34 million, a PE ratio of -0.57 and a beta of 1.10.

Rent the Runway (NASDAQ:RENT) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($6.03) EPS for the quarter, beating the consensus estimate of ($6.56) by $0.53. The business 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 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.