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

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 623,200 shares, a decrease of 6.5% from the September 30th total of 666,600 shares. Currently, 3.0% of the company's stock are sold short. Based on an average trading volume of 530,600 shares, the short-interest ratio is currently 1.2 days.

Torrid Stock Performance

Shares of NYSE CURV traded down $0.11 during midday trading on Thursday, reaching $3.65. The stock had a trading volume of 216,629 shares, compared to its average volume of 245,467. The company has a market capitalization of $382.08 million, a price-to-earnings ratio of 28.92 and a beta of 1.95. Torrid has a 12-month low of $2.18 and a 12-month high of $9.14. The stock has a 50-day moving average of $4.62 and a 200-day moving average of $5.98.

Torrid (NYSE:CURV - Get Free Report) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.08 EPS for the quarter, beating the consensus estimate 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 negative return on equity of 6.77% and a net margin of 1.21%. The business's revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 earnings per share. As a group, analysts forecast that Torrid will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CURV. Telsey Advisory Group restated a "market perform" rating and issued a $8.00 price target on shares of Torrid in a research note on Wednesday, September 4th. Morgan Stanley cut shares of Torrid from an "equal weight" rating to an "underweight" rating and set a $5.00 target price for the company. in a report on Thursday, July 18th. The Goldman Sachs Group dropped their price target on shares of Torrid from $7.00 to $4.50 and set a "neutral" rating on the stock in a research note on Monday, October 21st. Finally, William Blair upgraded Torrid from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $6.13.

Insiders Place Their Bets

In other news, CEO Lisa M. Harper sold 498,087 shares of the firm'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 transaction, the chief executive officer now directly owns 5,596,314 shares in the company, valued at $21,265,993.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Torrid news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the company'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 $27,675,179.60. Following the transaction, the insider now owns 75,069,044 shares in the company, valued at approximately $285,262,367.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa M. Harper sold 498,087 shares of the business's stock in a transaction that occurred 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,164,601 shares of company stock worth $34,825,484. Company insiders own 9.77% of the company's stock.

Hedge Funds Weigh In On Torrid

An institutional investor recently raised its position in Torrid stock. Ritholtz Wealth Management grew its holdings in shares of Torrid Holdings Inc. (NYSE:CURV - Free Report) by 161.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 81.82% of the company's stock.

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.