Insider Selling: Torrid Holdings Inc. (NYSE:CURV) Major Shareholder Sells 1,092,442 Shares of Stock

Torrid Holdings Inc. (NYSE:CURV) major shareholder Sycamore Partners Torrid, L.L. sold 1,092,442 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $3.80, for a total transaction of $4,151,279.60. Following the sale, the insider now directly owns 73,976,602 shares in the company, valued at $281,111,087.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Sycamore Partners Torrid, L.L. also recently made the following trade(s):

• On Friday, September 13th, Sycamore Partners Torrid, L.L. sold 7,282,942 shares of Torrid stock. The stock was sold at an average price of $3.80, for a total transaction of $27,675,179.60.

Torrid Stock Down 7.4 %

CURV opened at $3.99 on Monday. The company has a market cap of $416.36 million, a PE ratio of 36.27 and a beta of 2.01. Torrid Holdings Inc. has a twelve month low of $1.25 and a twelve month high of $9.14. The company has a 50-day moving average price of $6.85 and a 200 day moving average price of $6.09.

Torrid (NYSE:CURV) last announced its earnings results 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. Torrid had a net margin of 1.21% and a negative return on equity of 6.77%. The company had revenue of $284.60 million for the quarter, compared to analysts’ expectations of $282.87 million. During the same quarter in the previous year, the company posted $0.06 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Torrid Holdings Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Morgan Stanley cut Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Thursday, July 18th. Telsey Advisory Group restated a “market perform” rating and issued a $8.00 price objective on shares of Torrid in a research report on Wednesday, September 4th. Finally, William Blair upgraded Torrid from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.44.

Institutional Trading of Torrid

Several large investors have recently bought and sold shares of the business. Great Lakes Advisors LLC purchased a new position in Torrid in the 4th quarter worth approximately $93,000. Ritholtz Wealth Management grew its position 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 in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Torrid by 145.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock valued at $416,000 after purchasing an additional 50,466 shares during the last quarter. Finally, Fund 1 Investments LLC lifted its position in 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 buying an additional 166,841 shares in the last quarter. Hedge funds and other institutional investors own 81.82% of the company’s stock.

About Torrid

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.