Rent the Runway, Inc. (NASDAQ:RENT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Rent the Runway, Inc. (NASDAQ:RENT) have received a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat reports. Five equities research 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 brokerages that have updated their coverage on the stock in the last year is $25.00.

Several research analysts have weighed in on the company. JMP Securities boosted their price target 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. The Goldman Sachs Group lowered their target price on shares of Rent the Runway from $40.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, April 12th.

Insider Buying and Selling

In other news, CEO Jennifer Hyman sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $12.28, for a total value of $56,488.00. Following the transaction, the chief executive officer now owns 164,884 shares of the company’s stock, valued at $2,024,775.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 6,087 shares of company stock valued at $74,749. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Rent the Runway

Several institutional investors and hedge funds have recently modified their holdings of the business. Breed s Hill Capital LLC bought a new stake in Rent the Runway in the 4th quarter valued at about $53,000. CastleKnight Management LP grew its stake in 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. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Rent the Runway during the 4th quarter worth approximately $1,568,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Rent the Runway Trading Down 10.1 %

Rent the Runway stock opened at $19.67 on Tuesday. Rent the Runway has a 1-year low of $4.46 and a 1-year high of $45.60. The company has a fifty day simple moving average of $19.47 and a 200 day simple moving average of $13.53. The company has a market cap of $72.19 million, a P/E ratio of -0.65 and a beta of 1.17.

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

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.