Rent the Runway (NASDAQ:RENT – Get Free Report) posted its earnings results on Wednesday. The company reported ($0.57) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $89.90 million during the quarter.
Rent the Runway Stock Down 6.3%
NASDAQ:RENT opened at $3.72 on Wednesday. Rent the Runway has a twelve month low of $3.35 and a twelve month high of $10.13. The business has a 50 day moving average price of $4.63 and a two-hundred day moving average price of $5.81. The company has a market cap of $124.32 million, a P/E ratio of 7.75 and a beta of 1.17.
Hedge Funds Weigh In On Rent the Runway
A number of large investors have recently bought and sold shares of RENT. Geode Capital Management LLC boosted its holdings in shares of Rent the Runway by 1,044.4% in the 4th quarter. Geode Capital Management LLC now owns 284,372 shares of the company’s stock valued at $2,251,000 after buying an additional 259,522 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Rent the Runway in the 4th quarter valued at approximately $690,000. Quinn Opportunity Partners LLC acquired a new stake in shares of Rent the Runway in the 3rd quarter valued at approximately $421,000. State Street Corp acquired a new stake in shares of Rent the Runway in the 4th quarter valued at approximately $484,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Rent the Runway in the 4th quarter valued at approximately $218,000. Institutional investors and hedge funds own 73.10% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Analysis on Rent the Runway
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.
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