Torrid Holdings Inc. (NYSE:CURV) Sees Significant Decrease in Short Interest

Torrid Holdings Inc. (NYSE:CURV) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 623,200 shares, a drop of 6.5% from the September 30th total of 666,600 shares. Based on an average trading volume of 530,600 shares, the short-interest ratio is currently 1.2 days. Approximately 3.0% of the company’s stock are short sold.

Insider Transactions at Torrid

In other news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.80, for a total transaction of $27,675,179.60. Following the sale, the insider now owns 75,069,044 shares of the company’s stock, valued at approximately $285,262,367.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Torrid news, insider Elizabeth Munoz sold 28,228 shares of Torrid stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $3.80, for a total value of $107,266.40. Following the transaction, the insider now directly owns 1,948,683 shares in the company, valued at approximately $7,404,995.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of Torrid stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.80, for a total value of $27,675,179.60. Following the completion of the transaction, the insider now owns 75,069,044 shares in the company, valued at $285,262,367.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,164,601 shares of company stock valued at $34,825,484. Corporate insiders own 9.77% of the company’s stock.

Hedge Funds Weigh In On Torrid

An institutional investor recently raised its position in Torrid stock. O Shaughnessy Asset Management LLC increased its position in shares of Torrid Holdings Inc. (NYSE:CURV) by 145.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,162 shares of the company’s stock after purchasing an additional 50,466 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.08% of Torrid worth $416,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 81.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CURV. William Blair upgraded Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. Telsey Advisory Group restated a “market perform” rating and issued a $8.00 price target on shares of Torrid in a research note on Wednesday, September 4th. Morgan Stanley downgraded Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group decreased their price target on Torrid from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Torrid presently has an average rating of “Hold” and a consensus price target of $6.13.

Torrid Stock Performance

Shares of CURV stock opened at $3.76 on Thursday. The stock has a fifty day moving average price of $4.62 and a 200 day moving average price of $5.98. The stock has a market cap of $393.60 million, a PE ratio of 28.92 and a beta of 1.95. Torrid has a 1 year low of $2.18 and a 1 year high of $9.14.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $282.87 million. Torrid had a negative return on equity of 6.77% and a net margin of 1.21%. Torrid’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. As a group, equities research analysts predict that Torrid will post 0.19 earnings per share for the current year.

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.