Torrid Holdings Inc. (NYSE:CURV) Major Shareholder Sycamore Partners Torrid, L.L. Sells 7,282,942 Shares of Stock

Torrid Holdings Inc. (NYSE:CURV) major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 75,069,044 shares in the company, valued at approximately $285,262,367.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Torrid Stock Up 2.6 %

Shares of CURV opened at $4.01 on Friday. The company has a 50 day moving average of $7.23 and a two-hundred day moving average of $6.11. Torrid Holdings Inc. has a twelve month low of $1.23 and a twelve month high of $9.14. The company has a market cap of $419.77 million, a price-to-earnings ratio of 36.46 and a beta of 2.01.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Torrid had a negative return on equity of 6.77% and a net margin of 1.21%. The firm had revenue of $284.60 million during the quarter, compared to analyst estimates of $282.87 million. During the same quarter in the prior year, the business posted $0.06 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Torrid Holdings Inc. will post 0.19 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CURV shares. Morgan Stanley cut shares of Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a report on Thursday, July 18th. Telsey Advisory Group reissued a “market perform” rating and set a $8.00 price objective on shares of Torrid in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.45.

Institutional Investors Weigh In On Torrid

A number of large investors have recently modified their holdings of CURV. Fund 1 Investments LLC raised its position in shares of Torrid by 493.6% in the 4th quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock valued at $1,158,000 after purchasing an additional 166,841 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in Torrid during the 4th quarter valued at approximately $93,000. O Shaughnessy Asset Management LLC raised 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 worth $416,000 after buying an additional 50,466 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its stake in shares of Torrid by 161.0% during the second quarter. Ritholtz Wealth Management now owns 38,180 shares of the company’s stock worth $286,000 after buying an additional 23,553 shares during the period. 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.