Insider Selling: Rent the Runway (NASDAQ:RENT) Director Sells 25,132 Shares

Rent the Runway, Inc. (NASDAQ:RENT) Director Dhiren Fonseca sold 25,132 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $1.94, for a total transaction of $48,756.08. Following the transaction, the director directly owned 75,000 shares in the company, valued at approximately $145,500. This trade represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Rent the Runway Trading Down 6.3%

Shares of NASDAQ RENT traded down $0.13 during trading hours on Wednesday, reaching $1.94. The stock had a trading volume of 233,186 shares, compared to its average volume of 100,277. The firm has a market cap of $65.16 million, a price-to-earnings ratio of 0.15 and a beta of 1.18. The business’s fifty day moving average price is $3.41 and its two-hundred day moving average price is $4.01. Rent the Runway, Inc. has a 52-week low of $1.75 and a 52-week high of $10.13.

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

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Rent the Runway stock. Renaissance Technologies LLC lifted its holdings in shares of Rent the Runway, Inc. (NASDAQ:RENT) by 133.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 26,170 shares of the company’s stock after acquiring an additional 14,970 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of Rent the Runway worth $125,000 at the end of the most recent quarter. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

About Rent the Runway

Rent the Runway (NASDAQ: RENT) operates an online marketplace and subscription service that provides designer apparel and accessory rentals to consumers. The company offers both one-time rentals and tiered subscription plans, enabling members to borrow items on a recurring basis rather than purchasing them outright. Rent the Runway’s inventory spans a wide range of brands and styles, including evening gowns, everyday wear, handbags and jewelry, positioning the company within the broader sharing-economy and circular-fashion movements.

Founded in 2009 by Jennifer Hyman and Jennifer Fleiss, Rent the Runway was built on the premise of making high-end fashion more accessible and sustainable.