Torrid (NYSE:CURV) Shares Down 4%

Shares of Torrid Holdings Inc. (NYSE:CURV) were down 4% on Monday . The company traded as low as $6.46 and last traded at $6.52. Approximately 22,141 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 135,667 shares. The stock had previously closed at $6.79.

Analysts Set New Price Targets

CURV has been the subject of a number of recent analyst reports. Telsey Advisory Group upped their price objective on Torrid from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Thursday, June 13th. Morgan Stanley cut Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.96.

Torrid Stock Performance

The firm has a market capitalization of $694.97 million, a P/E ratio of 61.73 and a beta of 2.05. The firm’s 50-day moving average is $7.57 and its 200 day moving average is $5.97.

Torrid (NYSE:CURV) last posted its quarterly earnings data on Wednesday, June 12th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $279.77 million during the quarter, compared to the consensus estimate of $280.15 million. Torrid had a negative return on equity of 5.79% and a net margin of 1.05%. Torrid’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the company earned $0.11 earnings per share. As a group, research analysts expect that Torrid Holdings Inc. will post 0.18 EPS for the current fiscal year.

Institutional Trading of Torrid

A number of hedge funds have recently made changes to their positions in the business. Great Lakes Advisors LLC bought a new stake in Torrid in the 4th quarter valued at $93,000. Ritholtz Wealth Management increased its holdings in shares of Torrid by 161.0% in the second quarter. Ritholtz Wealth Management now owns 38,180 shares of the company’s stock valued at $286,000 after purchasing an additional 23,553 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Torrid by 145.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock worth $416,000 after buying an additional 50,466 shares during the period. Finally, Fund 1 Investments LLC boosted its holdings in shares of Torrid by 493.6% during the fourth quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock worth $1,158,000 after acquiring an additional 166,841 shares during the period. 81.82% of the stock is owned by institutional investors and hedge funds.

Torrid Company Profile

Torrid Holdings Inc operates in women's plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid, Torrid Curve, CURV, and Lovesick brand names. It is involved in the sale of tops, bottoms, dresses, denims, activewear, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.