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

Torrid Holdings Inc. (NYSE:CURV) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 623,200 shares, a drop 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 presently 1.2 days. Approximately 3.0% of the shares of the company are sold short.

Insider Activity at Torrid

In other Torrid news, CEO Lisa M. Harper sold 498,087 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.80, for a total transaction of $1,892,730.60. Following the completion of the transaction, the chief executive officer now owns 5,596,314 shares of the company’s stock, valued at $21,265,993.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Elizabeth Munoz sold 28,228 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $3.80, for a total value of $107,266.40. Following the sale, the insider now owns 1,948,683 shares in the company, valued at approximately $7,404,995.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lisa M. Harper sold 498,087 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.80, for a total transaction of $1,892,730.60. Following the transaction, the chief executive officer now owns 5,596,314 shares of the company’s stock, valued at approximately $21,265,993.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,164,601 shares of company stock worth $34,825,484. 9.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Torrid

An institutional investor recently raised its position in Torrid stock. Ritholtz Wealth Management grew its position in shares of Torrid Holdings Inc. (NYSE:CURV) by 161.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,180 shares of the company’s stock after buying an additional 23,553 shares during the quarter. Ritholtz Wealth Management’s holdings in Torrid were worth $286,000 as of its most recent filing with the Securities and Exchange Commission. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

Torrid Trading Down 0.8 %

NYSE CURV opened at $3.60 on Friday. Torrid has a 1-year low of $2.18 and a 1-year high of $9.14. The company has a market capitalization of $376.85 million, a price-to-earnings ratio of 27.69 and a beta of 1.95. The stock’s 50 day moving average is $4.51 and its two-hundred day moving average is $5.95.

Torrid (NYSE:CURV) last announced its quarterly earnings results 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 business had revenue of $284.60 million for the quarter, compared to analyst estimates of $282.87 million. During the same quarter in the previous year, the firm earned $0.06 EPS. Torrid’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts predict that Torrid will post 0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CURV shares. Morgan Stanley lowered shares of Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research report on Thursday, July 18th. Telsey Advisory Group reiterated a “market perform” rating and issued a $8.00 price objective on shares of Torrid in a research report on Wednesday, September 4th. The Goldman Sachs Group lowered their price objective on Torrid from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Finally, William Blair raised Torrid from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.13.

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.