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

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

Torrid Price Performance

Shares of Torrid stock opened at $3.76 on Thursday. The business has a 50-day moving average of $4.62 and a 200 day moving average of $5.98. Torrid has a 12 month low of $2.18 and a 12 month high of $9.14. The stock has a market capitalization of $393.60 million, a price-to-earnings ratio of 28.92 and a beta of 1.95.

Torrid (NYSE:CURV) last announced its earnings results on Wednesday, September 4th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Torrid had a negative return on equity of 6.77% and a net margin of 1.21%. The company had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $282.87 million. During the same period last year, the business posted $0.06 EPS. Torrid’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts anticipate that Torrid will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Torrid

In other Torrid news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $27,675,179.60. Following the completion of the sale, the insider now directly owns 75,069,044 shares in the company, valued at $285,262,367.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Torrid news, insider Elizabeth Munoz sold 188,189 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $715,118.20. Following the completion of the sale, the insider now directly owns 1,976,911 shares in the company, valued at $7,512,261.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $27,675,179.60. Following the transaction, the insider now owns 75,069,044 shares of the company’s stock, valued at approximately $285,262,367.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,164,601 shares of company stock worth $34,825,484 in the last three months. 9.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Torrid

An institutional investor recently raised its position in Torrid stock. Ritholtz Wealth Management raised its stake in Torrid Holdings Inc. (NYSE:CURV) by 161.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,180 shares of the company’s stock after purchasing an additional 23,553 shares during the period. Ritholtz Wealth Management’s holdings in Torrid were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 81.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CURV. William Blair upgraded Torrid from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 17th. 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 report on Thursday, July 18th. Telsey Advisory Group reiterated a “market perform” rating and set a $8.00 price target on shares of Torrid in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group lowered their price target on Torrid from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Monday, October 21st. One 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.13.

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.