Torrid Holdings Inc. (NYSE:CURV) Sees Large Drop in Short Interest

Torrid Holdings Inc. (NYSE:CURV) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totalling 623,200 shares, a decline of 6.5% from the September 30th total of 666,600 shares. Based on an average trading volume of 530,600 shares, the days-to-cover ratio is presently 1.2 days. Approximately 3.0% of the shares of the stock are short sold.

Torrid Stock Performance

Shares of CURV opened at $3.60 on Friday. The company has a market capitalization of $376.85 million, a PE ratio of 27.69 and a beta of 1.95. The company’s 50 day moving average price is $4.51 and its 200 day moving average price is $5.95. Torrid has a 52 week low of $2.18 and a 52 week high of $9.14.

Torrid (NYSE:CURV) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $284.60 million for 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 for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share. On average, equities analysts forecast that Torrid will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Elizabeth Munoz sold 188,189 shares of the firm’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 $715,118.20. Following the completion of the transaction, the insider now owns 1,976,911 shares in the company, valued at approximately $7,512,261.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Lisa M. Harper sold 498,087 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.80, for a total transaction of $1,892,730.60. Following the completion of the sale, the chief executive officer now directly owns 5,596,314 shares of the company’s stock, valued at $21,265,993.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Elizabeth Munoz sold 188,189 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.80, for a total value of $715,118.20. Following the completion of the transaction, the insider now owns 1,976,911 shares of the company’s stock, valued at $7,512,261.80. This trade represents a 0.00 % decrease in their position. 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. 9.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Torrid

A hedge fund recently raised its stake in Torrid stock. Ritholtz Wealth Management boosted its holdings in shares of Torrid Holdings Inc. (NYSE:CURV) by 161.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,180 shares of the company’s stock after acquiring an additional 23,553 shares during the quarter. Ritholtz Wealth Management’s holdings in Torrid were worth $286,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 81.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $8.00 target price 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 note on Tuesday, September 17th. 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 note on Thursday, July 18th. Finally, 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. One equities 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. Based on data from MarketBeat, the company has a consensus 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.