Rent the Runway (RENT:NSD) is scheduled to report its quarterly earnings on Wednesday, April 12th, after the market closes. According to analysts, the company is expected to report a loss of ($0.51) per share for the quarter.
Rent the Runway Stock Analysis:
Shares of Rent the Runway opened at $2.86 on Wednesday, with a market capitalization of $185.96 million. The stock has a P/E ratio of -1.20 and a beta of 0.71.
Rent the Runway has a 12-month low of $1.10 and a 12-month high of $6.95. Its 50-day moving average price is $3.41, while its 200-day moving average price is $2.75.
According to Stock Target Advisor, Rent the Runway stock currently has a consensus rating of “Buy” and an average target price of $4.60.
Insider Transactions:
In insider news, COO Anushka Salinas sold 23,534 shares of the stock in a transaction on March 16th, with an average price of $2.79, for a total transaction value of $65,659.86. Following the sale, Salinas now owns 535,989 shares in the company, valued at approximately $1,495,409.31.
Insider Cara Schembri also sold 10,749 shares of Rent the Runway stock at an average price of $2.79, for a total transaction value of $29,989.71. Following the sale, Schembri owns 191,243 shares of the company’s stock, valued at approximately $533,567.97.
Insiders sold 176,823 shares of the RENT stock worth $525,082 over the last 90 days. Company insiders own 10.70% of the Rent the Runway stock.
Hedge Funds & Institutional Holdings:
Institutional trading of Rent the Runway has seen several large investors recently adding to or reducing their stakes in the company. Quantbot Technologies LP acquired a new position in Rent the Runway during the first quarter worth $75,000.
Barclays PLC boosted its holdings in Rent the Runway by 541.1% during the fourth quarter. Barclays PLC now owns 12,700 shares of the RENT stock valued at $39,000 after acquiring an additional 10,719 shares during the period.
BNP Paribas Arbitrage SNC bought a new stake in Rent the Runway during the third quarter valued at about $33,000. Verition Fund Management LLC also bought a new stake in Rent the Runway in the second quarter valued at about $50,000.
Finally, Rhumbline Advisers lifted its stake in the company by 49.1% in the first quarter. Rhumbline Advisers now owns 17,046 shares of the company’s stock valued at $117,000 after buying an additional 5,617 shares during the period. Institutional investors and hedge funds own 69.87% of Rent the Runway stock.
Rent the Runway-Analyst Ratings:
Several brokerages have commented on Rent the Runway, with Morgan Stanley boosting their price objective on the stock from $2.50 to $3.50 and assigning an “equal weight” rating.
Wolfe Research has given the stock a “peer perform” rating, while Telsey Advisory Group cut their price target on Rent the Runway from $8.00 to $4.00 and assigned an “outperform” rating.
Barclays also lowered their price objective on the stock from $6.00 to $3.00 and assigned an “overweight” rating.
Company Profile:
Rent the Runway, Inc. rents designer wear for women through its stores and online retail. The company offers ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, ski wear, home goods, evening wear, and kids wear, as well as accessories. It also engages in the software development and support activities. The company was incorporated in 2009 and is headquartered in Brooklyn, New York.
