Rent the Runway (NASDAQ:RENT) Director Sells $105,400.00 in Stock

Rent the Runway, Inc. (NASDAQ:RENT) Director Dhiren Fonseca sold 62,000 shares of the stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $1.70, for a total transaction of $105,400.00. Following the transaction, the director directly owned 13,000 shares of the company’s stock, valued at approximately $22,100. This trade represents a 82.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Rent the Runway Stock Performance

Shares of Rent the Runway stock traded down $0.06 on Monday, reaching $1.61. The company had a trading volume of 182,912 shares, compared to its average volume of 107,788. The firm’s 50 day moving average price is $3.17 and its two-hundred day moving average price is $3.81. The firm has a market cap of $54.37 million, a PE ratio of 0.13 and a beta of 1.18. Rent the Runway, Inc. has a 52-week low of $1.53 and a 52-week high of $10.13.

Rent the Runway (NASDAQ:RENT) last posted its quarterly earnings data on Friday, September 11th. The company reported ($0.38) earnings per share for the quarter. The company had revenue of $97.70 million for the quarter.

Institutional Investors Weigh In On Rent the Runway

An institutional investor recently raised its stake in Rent the Runway stock. Renaissance Technologies LLC raised its holdings in Rent the Runway, Inc. (NASDAQ:RENT) by 133.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,170 shares of the company’s stock after buying an additional 14,970 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of Rent the Runway worth $125,000 as of its most recent SEC filing. Institutional investors own 73.10% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rent the Runway in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Rent the Runway presently has an average rating of “Sell”.

About Rent the Runway

Rent the Runway, Inc is a fashion technology company that operates an online platform for renting designer apparel and accessories. Customers can access clothing, handbags, jewelry and other fashion items through subscription-based plans or individual rental orders, allowing them to wear products for specific occasions without purchasing them outright.

The company’s offerings include designer dresses, workwear, casual apparel, outerwear and accessories for women. Rent the Runway manages the rental process through its digital platform, including product selection, fulfillment, cleaning and returns.