Rent the Runway (NASDAQ:RENT) Rating Lowered to Hold at Citizens Jmp

Rent the Runway (NASDAQ:RENT) was downgraded by investment analysts at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Citigroup downgraded Rent the Runway to a “market perform” rating in a research report on Tuesday.

Rent the Runway Trading Down 0.5 %

Shares of NASDAQ RENT opened at $4.05 on Tuesday. Rent the Runway has a 12 month low of $3.70 and a 12 month high of $41.81. The stock has a 50 day moving average of $5.20 and a 200-day moving average of $7.87. The company has a market capitalization of $15.72 million, a P/E ratio of -0.18 and a beta of 1.33.

Rent the Runway (NASDAQ:RENT) last released its quarterly earnings data on Tuesday, April 15th. The company reported ($3.44) EPS for the quarter, topping analysts’ consensus estimates of ($3.48) by $0.04. The company had revenue of $76.40 million for the quarter, compared to the consensus estimate of $77.60 million. Analysts predict that Rent the Runway will post -18.61 EPS for the current fiscal year.

Institutional Trading of Rent the Runway

Several hedge funds and other institutional investors have recently bought and sold shares of RENT. GKV Capital Management Co. Inc. acquired a new stake in shares of Rent the Runway in the fourth quarter valued at approximately $33,000. Connective Capital Management LLC acquired a new position in Rent the Runway in the 4th quarter valued at $183,000. Bank of America Corp DE grew its holdings in shares of Rent the Runway by 40.0% during the 4th quarter. Bank of America Corp DE now owns 23,755 shares of the company’s stock worth $202,000 after purchasing an additional 6,785 shares in the last quarter. Finally, CastleKnight Management LP increased its position in shares of Rent the Runway by 51.7% in the fourth quarter. CastleKnight Management LP now owns 230,562 shares of the company’s stock worth $1,960,000 after purchasing an additional 78,535 shares during the period. Institutional investors and hedge funds own 73.10% of the company’s stock.

Rent the Runway Company Profile

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.