Torrid Holdings Inc. (NYSE:CURV) Short Interest Down 43.1% in September

Torrid Holdings Inc. (NYSE:CURV) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 477,300 shares, a decline of 43.1% from the August 31st total of 839,500 shares. Based on an average daily trading volume, of 371,500 shares, the short-interest ratio is currently 1.3 days. Approximately 2.5% of the company’s stock are short sold.

Insider Buying and Selling

In other Torrid news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.80, for a total transaction of $27,675,179.60. Following the completion of the sale, the insider now owns 75,069,044 shares in the company, valued at approximately $285,262,367.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the business’s 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 approximately $285,262,367.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elizabeth Munoz sold 188,189 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.80, for a total transaction of $715,118.20. Following the transaction, the insider now directly owns 1,976,911 shares in the company, valued at approximately $7,512,261.80. The disclosure for this sale can be found here. Insiders have sold 9,164,601 shares of company stock valued at $34,825,484 in the last quarter. Company insiders own 9.77% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Fund 1 Investments LLC increased its holdings in shares of Torrid by 493.6% during the fourth 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 period. O Shaughnessy Asset Management LLC grew its position in Torrid by 145.5% in the 1st 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 in the last quarter. Finally, Ritholtz Wealth Management raised its position in shares of 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 buying an additional 23,553 shares in the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CURV shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $8.00 price objective on shares of Torrid in a report on Wednesday, September 4th. William Blair raised shares of Torrid from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 17th. Finally, 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.44.

Torrid Price Performance

Shares of CURV stock traded up $0.06 during trading hours on Thursday, reaching $3.97. The stock had a trading volume of 77,092 shares, compared to its average volume of 200,067. The firm has a market capitalization of $415.58 million, a PE ratio of 35.55 and a beta of 2.01. The firm has a 50-day simple moving average of $6.57 and a 200-day simple moving average of $6.08. Torrid has a twelve month low of $1.44 and a twelve month high of $9.14.

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 net margin of 1.21% and a negative return on equity of 6.77%. The company had revenue of $284.60 million for the quarter, compared to analyst estimates of $282.87 million. During the same quarter last year, the business earned $0.06 earnings per share. Torrid’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Torrid will post 0.19 earnings per share for the current year.

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.