Rent the Runway (NASDAQ:RENT) Director Dhiren Fonseca Sells 25,132 Shares of Stock

Rent the Runway, Inc. (NASDAQ:RENT) Director Dhiren Fonseca sold 25,132 shares of Rent the Runway stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $1.94, for a total value of $48,756.08. Following the sale, the director owned 75,000 shares in the company, valued at $145,500. This trade represents a 25.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rent the Runway Stock Down 6.3%

Shares of NASDAQ RENT opened at $1.94 on Thursday. The stock has a market cap of $65.16 million, a PE ratio of 0.15 and a beta of 1.18. Rent the Runway, Inc. has a 52-week low of $1.75 and a 52-week high of $10.13. The business has a 50-day moving average price of $3.38 and a 200 day moving average price of $3.98.

Rent the Runway (NASDAQ:RENT) last released its quarterly earnings results on Friday, September 11th. The company reported ($0.38) EPS for the quarter. The business had revenue of $97.70 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rent the Runway in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Trading of Rent the Runway

A hedge fund recently raised its position in Rent the Runway stock. Renaissance Technologies LLC raised its stake in Rent the Runway, Inc. (NASDAQ:RENT) by 133.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,170 shares of the company’s stock after purchasing an additional 14,970 shares during the quarter. Renaissance Technologies LLC owned 0.08% of Rent the Runway worth $125,000 at the end of the most recent reporting period. Institutional investors own 73.10% of the company’s stock.

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.