Rent the Runway, Inc. (RENT:NSD) has been rated as a “Buy” by eleven brokerages currently covering the company, according to Stock Target Advisor Ratings. The average twelve-month price target for the RENT stock, as given by the brokerages that have covered it in the past year, is $4.33.
RENT Stock-Analyst Ratings:
The stock has been the subject of several recent research reports. Barclays raised the RENT stock’s price target from $3.00 to $4.00 and gave it an “overweight” rating in a research report released on April 13th.
Telsey Advisory Group reaffirmed an “outperform” rating and issued a $4.00 price target on shares of Rent the Runway in a research report on the same day.
Similarly, JMP Securities reaffirmed a “market outperform” rating and issued a $6.00 price target on shares of Rent the Runway stock on April 13th.
RENT Stock Price Analysis:
Shares of RENT stock opened at $2.39 on Monday, up 9.6%. The company’s 50-day moving average price is $2.87, and its 200-day moving average price is $2.84.
Rent the Runway has a market cap of $158.86 million, a P/E ratio of -1.11, and a beta of 0.68. Its 52-week low is $1.10 and its 52-week high is $6.38.
In terms of insider activity, CRO Brian Donato sold 10,440 shares of the RENT stock on Monday, March 20th, at an average price of $2.56, for a total transaction value of $26,726.40. Following the transaction, the executive now owns 492,771 shares in the company, valued at approximately $1,261,493.76.
In addition, CFO Scarlett O’Sullivan sold 68,071 shares of the stock on Tuesday, April 18th, at an average price of $2.89, for a total transaction value of $196,725.19. Following the completion of the transaction, the chief financial officer now directly owns 472,310 shares of the RENT stock, valued at approximately $1,364,975.90.
Corporate insiders have sold 250,956 shares of company stock worth $688,065 in the last quarter. Insider ownership of the company stands at 10.70%.
Hedge Funds & Institutional Holdings:
Several hedge funds have recently increased or decreased their stakes in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Rent the Runway in the 4th quarter worth $57,000.
Alpine Global Management LLC purchased a new stake in Rent the Runway in the 4th quarter valued at about $93,000. GSA Capital Partners LLP also purchased a new stake in Rent the Runway in the 4th quarter valued at about $478,000.
Commonwealth Equity Services LLC also purchased a new stake in Rent the Runway in the 4th quarter valued at about $73,000. Finally, Advisory Research Inc. raised its holdings in Rent the Runway by 173.2% in the 4th quarter, and now owns 235,403 shares of the RENT stock, valued at $718,000, after buying an additional 149,235 shares during the period.
Institutional investors and hedge funds own 69.87% of the RENT stock.
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. It also engages in the software development and support activities. The company was incorporated in 2009 and is headquartered in Brooklyn, New York.