10,400 Shares in Rent the Runway, Inc. (NASDAQ:RENT) Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. purchased a new position in Rent the Runway, Inc. (NASDAQ:RENT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,400 shares of the company’s stock, valued at approximately $46,000. Cambridge Investment Research Advisors Inc. owned approximately 0.27% of Rent the Runway as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. GKV Capital Management Co. Inc. purchased a new stake in Rent the Runway in the 4th quarter worth $33,000. Connective Capital Management LLC purchased a new stake in Rent the Runway in the 4th quarter worth $183,000. Bank of America Corp DE increased its stake in Rent the Runway by 40.0% in the 4th quarter. Bank of America Corp DE now owns 23,755 shares of the company’s stock worth $202,000 after buying an additional 6,785 shares in the last quarter. Finally, CastleKnight Management LP increased its stake in Rent the Runway by 51.7% in the 4th quarter. CastleKnight Management LP now owns 230,562 shares of the company’s stock worth $1,960,000 after buying an additional 78,535 shares in the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Rent the Runway Stock Down 4.8%

Shares of Rent the Runway stock opened at $4.75 on Wednesday. The firm has a market cap of $18.91 million, a price-to-earnings ratio of -0.25 and a beta of 1.38. The business has a 50-day moving average price of $5.55 and a 200-day moving average price of $5.90. Rent the Runway, Inc. has a twelve month low of $3.69 and a twelve month high of $19.25.

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, beating analysts’ consensus estimates of ($7.43) by $0.85. The firm had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $68.70 million. On average, equities analysts expect that Rent the Runway, Inc. will post -18.61 EPS for the current fiscal year.

Analyst Ratings Changes

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