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

Rent the Runway, Inc. (NASDAQ:RENT) Director Dhiren Fonseca sold 25,132 shares of the stock in a transaction on Monday, September 14th. The shares were 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 approximately $145,500. This trade represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Rent the Runway Stock Performance

Rent the Runway stock opened at $1.93 on Friday. Rent the Runway, Inc. has a fifty-two week low of $1.75 and a fifty-two week high of $10.13. The company has a market capitalization of $64.83 million, a price-to-earnings ratio of 0.15 and a beta of 1.18. The stock has a fifty day moving average of $3.35 and a two-hundred day moving average of $3.95.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Rent the Runway

A hedge fund recently bought a new position in Rent the Runway stock. Technology Crossover Management VIII Ltd. bought a new stake in shares of Rent the Runway, Inc. (NASDAQ:RENT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 197,481 shares of the company’s stock, valued at approximately $622,065. Rent the Runway makes up about 0.0% of Technology Crossover Management VIII Ltd.’s portfolio, making the stock its 4th largest position. Technology Crossover Management VIII Ltd. owned about 0.59% of Rent the Runway as of its most recent SEC filing. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

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.