Jennifer Hyman Sells 4,600 Shares of Rent the Runway, Inc. (NASDAQ:RENT) Stock

Rent the Runway, Inc. (NASDAQ:RENT) CEO Jennifer Hyman sold 4,600 shares of the stock in a transaction 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 sale, the chief executive officer now owns 164,884 shares in the company, valued at approximately $2,024,775.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Jennifer Hyman also recently made the following trade(s):

• On Monday, March 18th, Jennifer Hyman sold 7,770 shares of Rent the Runway stock. The stock was sold at an average price of $7.00, for a total value of $54,390.00.

Rent the Runway Stock Up 1.0 %

Shares of NASDAQ RENT traded up $0.15 during midday trading on Monday, hitting $14.49. 245,866 shares of the company’s stock were exchanged, compared to its average volume of 990,661. Rent the Runway, Inc. has a 12 month low of $4.46 and a 12 month high of $58.00. The company’s 50 day moving average price is $9.03 and its 200 day moving average price is $10.70. The firm has a market capitalization of $53.18 million, a PE ratio of -0.44 and a beta of 0.49.

Rent the Runway (NASDAQ:RENT) last issued its earnings results on Wednesday, April 10th. The company reported ($5.83) EPS for the quarter, missing the consensus estimate of ($5.80) by ($0.03). The firm had revenue of $75.80 million during the quarter, compared to the consensus estimate of $74.50 million. On average, equities research analysts anticipate that Rent the Runway, Inc. will post -20.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RENT. Piper Sandler reiterated a “neutral” rating and issued a $15.00 price target (down previously from $40.00) on shares of Rent the Runway in a report on Wednesday, January 17th. JMP Securities decreased their price target on Rent the Runway from $40.00 to $20.00 and set a “market outperform” rating on the stock in a report on Thursday, April 11th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $12.00 price target on shares of Rent the Runway in a report on Tuesday, January 16th. Finally, The Goldman Sachs Group decreased their price target on Rent the Runway from $40.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.88.

Institutional Trading of Rent the Runway

Several hedge funds have recently added to or reduced their stakes in RENT. Commonwealth Equity Services LLC lifted its holdings in Rent the Runway by 119.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 55,250 shares of the company’s stock worth $38,000 after purchasing an additional 30,050 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Rent the Runway during the 3rd quarter worth $46,000. Breed s Hill Capital LLC acquired a new stake in Rent the Runway in the fourth quarter valued at about $53,000. Landscape Capital Management L.L.C. acquired a new stake in Rent the Runway in the third quarter valued at about $66,000. Finally, CastleKnight Management LP boosted 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 buying an additional 411,000 shares in the last quarter. 73.10% of the stock is owned by institutional investors and hedge funds.

Rent the Runway Company Profile

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.