Natalie Mcgrath sells 950 shares of Rent the Runway, Inc. (NASDAQ:RENT)

Rent the Runway, Inc. (NASDAQ:RENT – Free Report) CMO Natalie Mcgrath sold 950 shares of the company’s stock on Monday, August 5. The shares were sold at an average price of $11.96, for a total transaction of $11,362.00. Following the sale, the marketing executive now owns 19,050 shares of the company’s stock, valued at approximately $227,838. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website.

Rent the Runway trading increases by 4.4%

NASDAQ RENT opened at $10.60 on Friday. The company’s 50-day moving average is $17.93 and its 200-day moving average is $14.46. The stock has a market cap of $38.90 million, a price-to-earnings ratio of -0.35 and a beta of 1.10. Rent the Runway, Inc. has a 12-month low of $4.46 and a 12-month high of $41.81.

Rent the Runway (NASDAQ:RENT – Free Report) last released its quarterly earnings results on Thursday, June 6. The company reported earnings per share of -$6.03 for the quarter, beating analysts’ consensus estimates of -$6.56 by $0.53. The company had revenue of $75.00 million during the quarter, compared to analyst estimates of $73.20 million. Equities analysts forecast that Rent the Runway, Inc. will post earnings per share of -$22.21 for the current fiscal year.

Changes in analyst ratings

RENT has been the subject of several research reports lately. The Goldman Sachs Group decreased their price target on Rent the Runway from $40.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, April 12. JMP Securities increased their price target on Rent the Runway from $20.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Friday, June 7. Five research analysts have rated the stock with a “hold” rating and three have given a “buy” rating. The company has an average rating of “hold” and an average price target of $25.00, according to data from MarketBeat.

Check out our latest report on Rent the Runway

Hedge funds comment on Rent the Runway

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new stake in Rent the Runway in the second quarter valued at about $33,000. Breed s Hill Capital LLC acquired a new position in Rent the Runway in the fourth quarter valued at about $53,000. Summit Securities Group LLC acquired a new position in Rent the Runway in the second quarter valued at about $86,000. CastleKnight Management LP increased its position in shares of 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. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Rent the Runway in the second quarter valued at about $308,000. 73.10% of the shares are owned by institutional investors and hedge funds.

Rent the Runway Company Profile

(Get free report)

Rent the Runway, Inc. operates a shared designer closet in the United States. The company offers formal wear and accessories, ready-to-wear, workwear, denim, casual wear, maternity wear, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear and skiwear by subscription, rental and resale.

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