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 the business’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 value of $48,756.08. Following the sale, the director directly owned 75,000 shares in the company, valued at $145,500. The trade was a 25.10% 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 Stock Performance

RENT stock traded down $0.13 during midday trading on Wednesday, reaching $1.94. 233,186 shares of the company traded hands, compared to its average volume of 100,277. The firm has a market capitalization of $65.16 million, a price-to-earnings 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 of $3.41 and a 200-day moving average of $4.01.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Rent the Runway

An institutional investor recently bought a new position in Rent the Runway stock. Technology Crossover Management VIII Ltd. bought a new position in shares of Rent the Runway, Inc. (NASDAQ:RENT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 197,481 shares of the company’s stock, valued at approximately $622,065. Rent the Runway comprises approximately 0.0% of Technology Crossover Management VIII Ltd.’s investment portfolio, making the stock its 4th biggest holding. Technology Crossover Management VIII Ltd. owned 0.59% of Rent the Runway at the end of the most recent reporting period. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Rent the Runway Company Profile

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.