Rent the Runway (NASDAQ:RENT) Director Dhiren Fonseca Sells 13,000 Shares of Company Stock

Rent the Runway, Inc. (NASDAQ:RENT) Director Dhiren Fonseca sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $1.70, for a total value of $22,100.00. Following the sale, the director directly owned 13,000 shares in the company, valued at $22,100. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rent the Runway Price Performance

Shares of RENT traded down $0.06 during midday trading on Monday, hitting $1.61. The stock had a trading volume of 182,912 shares, compared to its average volume of 107,788. The stock’s 50 day moving average is $3.17 and its 200 day moving average 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 1 year low of $1.53 and a 1 year 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.

Analyst Ratings Changes

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

Institutional Trading of Rent the Runway

An institutional investor recently raised its position in Rent the Runway stock. Renaissance Technologies LLC grew its holdings in Rent the Runway, Inc. (NASDAQ:RENT) by 133.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,170 shares of the company’s stock after acquiring 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 and hedge funds own 73.10% of the company’s stock.

Rent the Runway Company Profile

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.