Torrid Holdings Inc. (NYSE:CURV) Major Shareholder Sells $27,675,179.60 in Stock

Torrid Holdings Inc. (NYSE:CURV) major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of Torrid stock in a transaction dated 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 completion of the sale, the insider now owns 75,069,044 shares of the company’s stock, valued at $285,262,367.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Torrid Stock Performance

CURV stock opened at $4.01 on Monday. Torrid Holdings Inc. has a one year low of $1.23 and a one year high of $9.14. The firm has a market cap of $418.44 million, a price-to-earnings ratio of 36.45 and a beta of 2.01. The firm has a 50-day simple moving average of $7.23 and a two-hundred day simple moving average of $6.13.

Torrid (NYSE:CURV) last announced its earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $284.60 million during the quarter, compared to the consensus estimate of $282.87 million. Torrid had a net margin of 1.21% and a negative return on equity of 6.77%. Torrid’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.06 earnings per share. As a group, equities analysts predict that Torrid Holdings Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CURV. Fund 1 Investments LLC boosted its holdings in Torrid by 493.6% in the fourth quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock worth $1,158,000 after acquiring an additional 166,841 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Torrid by 145.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock worth $416,000 after purchasing an additional 50,466 shares in the last quarter. Ritholtz Wealth Management grew its position in Torrid by 161.0% during the 2nd quarter. Ritholtz Wealth Management now owns 38,180 shares of the company’s stock worth $286,000 after purchasing an additional 23,553 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in Torrid during the 4th quarter valued at approximately $93,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.