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 firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.28, for a total value of $56,488.00. Following the completion of the sale, the chief executive officer now owns 164,884 shares of the company’s stock, valued at $2,024,775.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 transaction of $54,390.00.

Rent the Runway Trading Up 5.1 %

Shares of RENT opened at $15.23 on Wednesday. The stock has a market cap of $55.89 million, a P/E ratio of -0.46 and a beta of 0.49. The stock’s 50-day moving average price is $9.16 and its two-hundred day moving average price is $10.71. Rent the Runway, Inc. has a 1 year low of $4.46 and a 1 year high of $58.00.

Rent the Runway (NASDAQ:RENT) last issued its quarterly earnings data on Wednesday, April 10th. The company reported ($5.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.80) by ($0.03). The company had revenue of $75.80 million for the quarter, compared to analysts’ expectations of $74.50 million. As a group, equities analysts forecast that Rent the Runway, Inc. will post -20.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RENT. JMP Securities lowered their price target on shares of Rent the Runway from $40.00 to $20.00 and set a “market outperform” rating for the company 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. Piper Sandler reissued a “neutral” rating and set a $15.00 price objective (down from $40.00) on shares of Rent the Runway in a report on Wednesday, January 17th. Finally, The Goldman Sachs Group lowered their price target on shares of Rent the Runway from $40.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rent the Runway currently has a consensus rating of “Hold” and a consensus target price of $31.88.

Institutional Trading of Rent the Runway

A number of large investors have recently made changes to their positions in RENT. 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 acquiring an additional 411,000 shares during the period. Breed s Hill Capital LLC bought a new position in shares of Rent the Runway during the 4th quarter valued at about $53,000. Russell Investments Group Ltd. acquired a new position in shares of Rent the Runway in the 4th quarter valued at approximately $1,568,000. Landscape Capital Management L.L.C. bought a new stake in Rent the Runway during the 3rd quarter worth approximately $66,000. Finally, Panagora Asset Management Inc. acquired a new stake in Rent the Runway during the 3rd quarter worth approximately $46,000. Institutional investors 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.