Millennium Management LLC Sells 4,515 Shares of Rent the Runway, Inc. (NASDAQ:RENT)

Millennium Management LLC decreased its position in shares of Rent the Runway, Inc. (NASDAQ:RENT) by 17.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,763 shares of the company’s stock after selling 4,515 shares during the period. Millennium Management LLC owned 0.54% of Rent the Runway worth $176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. GKV Capital Management Co. Inc. purchased a new position in Rent the Runway during the 4th quarter worth $33,000. Bank of America Corp DE boosted its holdings in Rent the Runway by 40.0% in the fourth quarter. Bank of America Corp DE now owns 23,755 shares of the company’s stock worth $202,000 after acquiring an additional 6,785 shares in the last quarter. Finally, CastleKnight Management LP increased its holdings in shares of Rent the Runway by 51.7% during the fourth quarter. CastleKnight Management LP now owns 230,562 shares of the company’s stock valued at $1,960,000 after acquiring an additional 78,535 shares in the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Rent the Runway Trading Down 3.5%

Shares of NASDAQ:RENT opened at $5.79 on Friday. Rent the Runway, Inc. has a 12-month low of $3.69 and a 12-month high of $25.21. The business has a 50 day moving average of $5.25 and a two-hundred day moving average of $6.66. The company has a market capitalization of $23.05 million, a PE ratio of -0.26 and a beta of 1.41.

Rent the Runway (NASDAQ:RENT) last issued its quarterly earnings data on Thursday, June 5th. The company reported ($6.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($7.43) by $0.85. The firm had revenue of $69.60 million during the quarter, compared to analyst estimates of $68.70 million. Equities research analysts predict that Rent the Runway, Inc. will post -18.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RENT has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Rent the Runway from a “hold” rating to a “sell” rating in a report on Saturday, June 7th. Citizens Jmp lowered Rent the Runway from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Citigroup cut Rent the Runway to a “market perform” rating in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Rent the Runway currently has an average rating of “Hold” and a consensus target price of $33.00.

About Rent the Runway

Rent the Runway, Inc operates shared designer closet in the United States. The company offers evening wear and accessories, ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, and ski wear under subscription, rental, and resale offering.