Torrid Holdings Inc. (NYSE:CURV) Major Shareholder Sycamore Partners Torrid, L.L. Sells 1,092,442 Shares

Torrid Holdings Inc. (NYSE:CURV) major shareholder Sycamore Partners Torrid, L.L. sold 1,092,442 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $3.80, for a total value of $4,151,279.60. Following the completion of the sale, the insider now directly owns 73,976,602 shares in the company, valued at $281,111,087.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Sycamore Partners Torrid, L.L. also recently made the following trade(s):

• On Friday, September 13th, Sycamore Partners Torrid, L.L. sold 7,282,942 shares of Torrid stock. The stock was sold at an average price of $3.80, for a total transaction of $27,675,179.60.

Torrid Trading Down 7.4 %

NYSE:CURV traded down $0.32 during mid-day trading on Friday, reaching $3.99. The company’s stock had a trading volume of 592,358 shares, compared to its average volume of 195,311. The stock has a market cap of $416.36 million, a P/E ratio of 36.27 and a beta of 2.01. The firm’s fifty day moving average price is $6.95 and its two-hundred day moving average price is $6.09. Torrid Holdings Inc. has a 12-month low of $1.25 and a 12-month high of $9.14.

Torrid (NYSE:CURV) last released its quarterly earnings data 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. Torrid had a net margin of 1.21% and a negative return on equity of 6.77%. The firm had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $282.87 million. During the same period in the previous year, the company earned $0.06 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts predict that Torrid Holdings Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in 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 note on Thursday, July 18th. Telsey Advisory Group reissued a “market perform” rating and set a $8.00 price target on shares of Torrid in a research report on Wednesday, September 4th. Finally, William Blair upgraded shares of Torrid from a “market perform” rating to an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.44.

Hedge Funds Weigh In On Torrid

Several hedge funds and other institutional investors have recently modified their holdings of CURV. Great Lakes Advisors LLC bought a new position in shares of Torrid in the 4th quarter worth approximately $93,000. Ritholtz Wealth Management increased its holdings in Torrid by 161.0% during the second quarter. Ritholtz Wealth Management now owns 38,180 shares of the company’s stock valued at $286,000 after buying an additional 23,553 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Torrid by 145.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock valued at $416,000 after buying an additional 50,466 shares during the last quarter. Finally, Fund 1 Investments LLC raised its position 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 during the period. 81.82% of the stock is owned by institutional investors.

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.