Rent the Runway (NASDAQ:RENT) Director Sells $103,202.84 in Stock

Key Points

• Director sale: Rent the Runway Director Dhiren Fonseca sold 34,516 shares for $103,202.84 under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards. His remaining stake fell 25.63% to 100,132 shares.
• Stock and financial performance: RENT recently traded at $3.45, near its 52-week low of $2.88 and below its 200-day moving average of $4.95. The company reported a quarterly loss of $0.57 per share on revenue of $89.90 million.
• Investor outlook: Institutional investors own 73.10% of the stock, but Weiss Ratings reiterated a “sell” rating and the analyst consensus remains “Sell.”

Rent the Runway, Inc. (NASDAQ:RENT - Get Free Report) Director Dhiren Fonseca sold 34,516 shares of the business's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $2.99, for a total transaction of $103,202.84. Following the transaction, the director directly owned 100,132 shares in the company, valued at $299,394.68. This trade represents a 25.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rent the Runway Stock Performance

Shares of RENT traded up $0.27 during trading hours on Tuesday, reaching $3.45. 18,879 shares of the company traded hands, compared to its average volume of 94,712. Rent the Runway, Inc. has a 1-year low of $2.88 and a 1-year high of $10.13. The stock's fifty day moving average is $3.42 and its 200 day moving average is $4.95. The stock has a market cap of $115.85 million, a P/E ratio of 0.53 and a beta of 1.19.

Rent the Runway (NASDAQ:RENT - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.57) EPS for the quarter. The firm had revenue of $89.90 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RENT. Marshall Wace LLP acquired a new position in Rent the Runway in the 4th quarter worth $84,000. Virtu Financial LLC bought a new position in shares of Rent the Runway during the fourth quarter worth about $88,000. Renaissance Technologies LLC acquired a new stake in Rent the Runway in the 4th quarter valued at approximately $89,000. OMERS ADMINISTRATION Corp bought a new stake in Rent the Runway in the 4th quarter valued at approximately $92,000. Finally, Two Sigma Investments LP bought a new stake in Rent the Runway in the 3rd quarter valued at approximately $109,000. Institutional investors own 73.10% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Rent the Runway in a research report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus 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.

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