Insider Selling: Rent the Runway, Inc. (NASDAQ:RENT) CEO Sells $61,270.00 in Stock

Rent the Runway, Inc. (NASDAQ:RENT) CEO Jennifer Hyman sold 6,127 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $10.00, for a total value of $61,270.00. Following the completion of the transaction, the chief executive officer now directly owns 148,088 shares in the company, valued at $1,480,880. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Jennifer Hyman also recently made the following trade(s):

• On Monday, August 5th, Jennifer Hyman sold 4,544 shares of Rent the Runway stock. The shares were sold at an average price of $11.96, for a total value of $54,346.24.

Rent the Runway Stock Down 15.1 %

RENT opened at $8.41 on Friday. The stock has a market cap of $30.88 million, a P/E ratio of -0.28 and a beta of 1.08. Rent the Runway, Inc. has a 12 month low of $4.46 and a 12 month high of $41.81. The company has a fifty day simple moving average of $12.97 and a 200 day simple moving average of $14.78.

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, equities research analysts expect that Rent the Runway, Inc. will post -19.08 earnings per share for the current fiscal year.

Institutional Trading of Rent the Runway

Several hedge funds and other institutional investors have recently modified their holdings of the company. CastleKnight Management LP grew 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 worth $288,000 after buying an additional 411,000 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in Rent the Runway during the 2nd quarter worth approximately $308,000. Summit Securities Group LLC bought a new position in shares of Rent the Runway during the 2nd quarter worth approximately $86,000. Meeder Asset Management Inc. acquired a new stake in shares of Rent the Runway in the second quarter valued at approximately $33,000. Finally, XTX Topco Ltd bought a new stake in shares of Rent the Runway in the second quarter worth $293,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

Analyst Ratings Changes

RENT has been the subject of several research reports. Jefferies Financial Group lowered their target price on 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. JMP Securities lifted their price objective on 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Rent the Runway presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.86.

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.