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

Torrid Holdings Inc. (NYSE:CURV) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 506,800 shares, a decrease of 21.0% from the October 31st total of 641,800 shares. Based on an average daily volume of 560,700 shares, the short-interest ratio is currently 0.9 days. Approximately 2.5% of the shares of the stock are short sold.

Torrid Trading Up 6.2 %

CURV stock traded up $0.25 during mid-day trading on Friday, reaching $4.29. The company’s stock had a trading volume of 197,395 shares, compared to its average volume of 256,459. The company has a market cap of $449.08 million, a price-to-earnings ratio of 33.00 and a beta of 1.96. Torrid has a 12 month low of $2.18 and a 12 month high of $9.14. The business’s 50 day moving average price is $3.83 and its 200 day moving average price is $5.81.

Torrid (NYSE:CURV) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Torrid had a net margin of 1.21% and a negative return on equity of 6.77%. The business had revenue of $284.60 million during the quarter, compared to the consensus estimate of $282.87 million. During the same period in the prior year, the firm posted $0.06 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts expect that Torrid will post 0.2 EPS for the current fiscal year.

Insider Transactions at Torrid

In related news, CEO Lisa M. Harper sold 498,087 shares of Torrid stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $1,892,730.60. Following the completion of the sale, the chief executive officer now directly owns 5,596,314 shares in the company, valued at $21,265,993.20. This trade represents a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.80, for a total transaction 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 trade was a 8.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,164,601 shares of company stock worth $34,825,484. Corporate insiders own 9.77% of the company’s stock.

Institutional Investors Weigh In On Torrid

Several institutional investors have recently bought and sold shares of CURV. Barclays PLC boosted its holdings in Torrid by 354.5% in the third quarter. Barclays PLC now owns 17,416 shares of the company’s stock worth $69,000 after acquiring an additional 13,584 shares in the last quarter. Maven Securities LTD bought a new position in Torrid in the 3rd quarter worth about $98,000. Quadrature Capital Ltd purchased a new stake in Torrid during the 3rd quarter valued at about $104,000. XTX Topco Ltd purchased a new stake in Torrid during the 3rd quarter valued at about $145,000. Finally, Verition Fund Management LLC bought a new stake in Torrid during the 3rd quarter valued at about $166,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $8.00 target price on shares of Torrid in a research report on Monday, November 25th. The Goldman Sachs Group decreased their target price on Torrid from $7.00 to $4.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Finally, William Blair upgraded shares of Torrid from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.