Brokerages Set Rent the Runway, Inc. (NASDAQ:RENT) PT at $25.86

Rent the Runway, Inc. (NASDAQ:RENT) has earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $25.86.

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

Rent the Runway Stock Up 9.9 %

Shares of RENT stock opened at $10.57 on Monday. Rent the Runway has a 12 month low of $4.46 and a 12 month high of $41.81. The company’s fifty day simple moving average is $10.89 and its 200-day simple moving average is $15.27. The firm has a market cap of $38.81 million, a PE ratio of -0.35 and a beta of 1.04.

Rent the Runway (NASDAQ:RENT) last issued its quarterly 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 business had revenue of $78.90 million for the quarter, compared to the consensus estimate of $76.60 million. During the same period last year, the firm earned ($8.00) earnings per share. On average, equities analysts predict that Rent the Runway will post -19.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jennifer Hyman sold 4,544 shares of the firm’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 value of $54,346.24. Following the completion of the sale, the chief executive officer now directly owns 154,215 shares of the company’s stock, valued at $1,844,411.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 18,187 shares of company stock valued at $195,670 over the last 90 days. 6.60% of the stock is currently owned by insiders.

Institutional Trading of Rent the Runway

A number of hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new position in Rent the Runway in the 2nd quarter valued at about $70,000. Cubist Systematic Strategies LLC bought a new position in shares of Rent the Runway during the second quarter worth approximately $131,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rent the Runway during the 2nd quarter worth approximately $72,000. Susquehanna Fundamental Investments LLC bought a new stake in Rent the Runway in the 2nd quarter valued at $227,000. Finally, XTX Topco Ltd acquired a new position in Rent the Runway in the 2nd quarter valued at $293,000. Institutional investors and hedge funds 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.