Lord Abbett & CO. LLC acquired a new stake in shares of Torrid Holdings Inc. (NYSE:CURV) in the third quarter, HoldingsChannel.com reports. The firm acquired 1,543,018 shares of the company’s stock, valued at approximately $23,809,000.
Several other large investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Torrid in the 3rd quarter worth about $105,000. Deutsche Bank AG bought a new position in Torrid during the 3rd quarter valued at about $113,000. Victory Capital Management Inc. acquired a new position in Torrid in the third quarter valued at about $1,877,000. Finally, BlackRock Inc. bought a new stake in Torrid during the third quarter worth about $9,158,000. Institutional investors own 14.48% of the company’s stock.
Torrid stock opened at $9.51 on Friday. Torrid Holdings Inc. has a 1 year low of $8.06 and a 1 year high of $33.19. The company’s 50-day simple moving average is $13.65.
CURV has been the topic of several recent analyst reports. Zacks Investment Research raised Torrid from a “sell” rating to a “hold” rating in a report on Tuesday, December 7th. The Goldman Sachs Group reduced their price objective on Torrid from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday. Cowen lowered their target price on Torrid from $30.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, December 9th. The analyst said its 3Q experienced sales pressure on supply-chain related inventory delays and believes its multiple is likely to contract in near-term. He noted they narrowed FY2021 outlook and its 4Q guidance is lower versus the Street on inflationary headwinds including air freight and potential inventory delays. Robert W. Baird reduced their price target on shares of Torrid from $18.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Morgan Stanley lowered their price objective on shares of Torrid from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, December 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Torrid has an average rating of “Buy” and an average target price of $19.83.
Torrid Holdings Inc focuses on operating as a holding company for Torrid Parent Inc that operates in women's plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid and Torrid Curve brand names. It is involved in the sale of tops, bottoms, dresses, intimates, sleep wear, swim wear, and outerwear products; and non-apparel products comprising accessories, footwear, and beauty products.
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