Geode Capital Management LLC recently announced the acquisition of new stake in Rent the Runway Inc (NASDAQ:RENT). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.85% to 0.95 million shares with purchase of 17340.0 shares. This fresh investment now brings its stake to 1.45% valued currently at $0.51 million.
With over 7.84 million Rent the Runway Inc (RENT) shares trading Tuesday and a closing price of $0.66 on the day, the dollar volume was approximately $5.17 million. The shares have shown a negative half year performance of -65.69% and its price on 01/09/24 gained nearly 17.77%. Currently, there are 61.96M common shares owned by the public and among those 36.27M shares have been available to trade.
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Insiders at the company have transacted a total of 124 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 5,953,070 shares. Insider sales of the common stock occurred on 93 occasions, with total insider shares sold totaling 1,286,236 shares.
The top 3 mutual fund holders in Rent the Runway Inc are T Rowe Price Small Cap Value Fund, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. T Rowe Price Small Cap Value Fund owns 2.97 million shares of the company’s stock, all valued at over $1.6 million. The company sold 6300.0 shares recently to bring their total holdings to about 4.51% of the shares outstanding. iShares Russell 2000 ETF bought 588.0 shares to bring its total holdings to over 1.19 million shares at a value of $0.64 million. iShares Russell 2000 ETF now owns shares totaling to 1.81% of the shares outstanding.
Shares of Rent the Runway Inc (NASDAQ: RENT) opened at $0.55, down -$0.01 from a prior closing price of $0.56. However, the script later moved the day high at 0.7960, up 17.77%. The company’s stock has a 5-day price change of 36.80% and 2.02% over the past three months. RENT shares are trading 25.52% year to date (YTD), with the 12-month market performance down to -81.51% lower. It has a 12-month low price of $0.42 and touched a high of $4.82 over the same period. RENT has an average intraday trading volume of 792.11K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.71%, 12.05%, and -56.05% respectively.
Institutional ownership of Rent the Runway Inc (NASDAQ: RENT) shares accounts for 35.96% of the company’s 61.96M shares outstanding. Mutual fund holders own 24.25%, while other institutional holders and individual stakeholders account for 35.20% and 13.78% respectively.
It has a market capitalization of $46.11M and a beta (3y monthly) value of 1.01. The earnings-per-share (ttm) stands at -$1.71. Price movements for the stock have been influenced by the stock’s volatility, which stands at 24.80% over the week and 16.82% over the month.
Analysts forecast that Rent the Runway Inc (RENT) will achieve an EPS of -$0.3 for the current quarter, -$0.28 for the next quarter and -$0.98 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.4 while analysts give the company a high EPS estimate of -$0.22. Comparatively, EPS for the current quarter was -$0.4 a year ago. Earnings per share for the fiscal year are expected to increase by 30.73%, and 40.69% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Rent the Runway Inc (RENT) as a “Strong Buy” at a consensus score of 1.78. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 3 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
