Torrid Holdings Inc. (NYSE:CURV) Given Average Rating of “Reduce” by Brokerages

Shares of Torrid Holdings Inc. (NYSE:CURV) have received an average rating of “Reduce” from the eight ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $1.44.

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Torrid from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Telsey Advisory Group reduced their price objective on shares of Torrid from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Thursday, December 4th. Bank of America lowered their target price on shares of Torrid from $6.00 to $2.00 and set a “buy” rating for the company in a research note on Thursday, December 4th. The Goldman Sachs Group cut their price target on Torrid from $1.50 to $0.75 and set a “sell” rating for the company in a report on Friday, December 5th. Finally, Zacks Research upgraded Torrid from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd.

Torrid Price Performance

Shares of Torrid stock opened at $1.08 on Tuesday. Torrid has a 1 year low of $0.94 and a 1 year high of $6.95. The business has a 50 day moving average price of $1.12 and a 200 day moving average price of $1.49. The company has a market capitalization of $106.74 million, a P/E ratio of -107.60 and a beta of 1.49.

Torrid (NYSE:CURV) last released its quarterly earnings results on Wednesday, December 3rd. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Torrid had a negative return on equity of 1.69% and a negative net margin of 0.18%.The company had revenue of $235.15 million for the quarter, compared to analysts’ expectations of $239.90 million. During the same period in the previous year, the business posted ($0.01) EPS. As a group, research analysts expect that Torrid will post 0.14 EPS for the current fiscal year.

Insider Activity at Torrid

In other news, major shareholder Fund 1 Investments, Llc sold 25,000 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $1.31, for a total transaction of $32,750.00. Following the transaction, the insider directly owned 9,904,856 shares in the company, valued at $12,975,361.36. This represents a 0.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Torrid

Several institutional investors and hedge funds have recently bought and sold shares of CURV. Nomura Holdings Inc. boosted its holdings in shares of Torrid by 94.8% in the 3rd quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company’s stock valued at $10,908,000 after purchasing an additional 3,034,083 shares during the last quarter. Bank of America Corp DE boosted its holdings in Torrid by 191.1% in the second quarter. Bank of America Corp DE now owns 1,917,793 shares of the company’s stock valued at $5,657,000 after acquiring an additional 1,258,934 shares during the last quarter. Fund 1 Investments LLC grew its position in Torrid by 12.4% during the second quarter. Fund 1 Investments LLC now owns 10,433,112 shares of the company’s stock valued at $30,778,000 after acquiring an additional 1,150,726 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Torrid during the third quarter worth about $1,453,000. Finally, Millennium Management LLC purchased a new position in shares of Torrid in the 3rd quarter worth about $669,000. Institutional investors and hedge funds own 81.82% of the company’s stock.

About Torrid

Torrid, trading under the ticker CURV on the New York Stock Exchange, is a specialty retailer focused on plus-size women’s fashion. Established in 2001 as a division of Hot Topic, Torrid has built its reputation on offering trend-driven apparel and accessories designed specifically for women who wear size 10 to 30. The company’s product assortment spans casual wear, denim, activewear, intimates, footwear, and fashion‐forward accessories, catering to a demographic that has historically been underserved by mainstream retailers.

Over the years, Torrid has expanded from its early mall‐based store footprint to become a multichannel business.