1 day Ago By ABMN Staff
Rent the Runway, Inc. ( NASDAQ:RENT – Get Free Report ) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports.
Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $25.86.
Several analysts have recently weighed in on the company. 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 increased their price target on Rent the Runway from $20.00 to $40.
00 and gave the company a “market outperform” rating in a report on Friday, June 7th. Get Our Latest Stock Analysis on Rent the Runway Rent the Runway Price Performance Rent the Runway ( NASDAQ:RENT – Get Free Report ) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($4.
17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($5.86) by $1.69.
The company had revenue of $78.90 million during the quarter, compared to analyst estimates of $76.60 million.
During the same quarter in the prior year, the company posted ($8.00) earnings per share. On average, equities research analysts expect that Rent the Runway will post -19.
08 EPS for the current fiscal year. Insider Buying and Selling at Rent the Runway In other news, CEO Jennifer Hyman sold 6,127 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $10.
00, for a total transaction of $61,270.00. Following the completion of the sale, the chief executive officer now directly owns 148,088 shares of the company’s stock, valued at $1,480,880.
The sale was disclosed in a document filed with the SEC, which is available at the SEC website . Over the last 90 days, insiders have sold 18,187 shares of company stock valued at $195,670. Corporate insiders own 6.
60% of the company’s stock. Institutional Trading of Rent the Runway A number of hedge funds have recently made changes to their positions in the stock. CastleKnight Management LP grew its stake in Rent the Runway by 304.
9% in the fourth quarter. CastleKnight Management LP now owns 545,800 shares of the company’s stock valued at $288,000 after purchasing an additional 411,000 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Rent the Runway in the 2nd quarter valued at approximately $308,000.
XTX Topco Ltd bought a new stake in shares of Rent the Runway in the 2nd quarter valued at approximately $293,000. Susquehanna Fundamental Investments LLC acquired a new position in Rent the Runway in the second quarter worth approximately $227,000. Finally, Cubist Systematic Strategies LLC bought a new position in Rent the Runway during the second quarter valued at approximately $131,000.
73.10% of the stock is owned by hedge funds and other institutional investors. Rent the Runway Company Profile ( Get Free Report 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. Recommended Stories Receive News & Ratings for Rent the Runway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rent the Runway and related companies with MarketBeat.com's FREE daily email newsletter .
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