Torrid Holdings Inc. (NYSE:CURV) is Sycamore Partners Management L.P.'s Largest Position

Sycamore Partners Management L.P. lowered its stake in shares of Torrid Holdings Inc. (NYSE:CURV - Free Report) by 10.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,976,602 shares of the company's stock after selling 8,375,384 shares during the quarter. Torrid accounts for 100.0% of Sycamore Partners Management L.P.'s investment portfolio, making the stock its biggest position. Sycamore Partners Management L.P. owned 70.67% of Torrid worth $290,728,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Torrid by 8.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company's stock valued at $346,000 after buying an additional 6,968 shares during the period. Ritholtz Wealth Management increased its position 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 acquiring an additional 23,553 shares during the last quarter. Maven Securities LTD purchased a new stake in Torrid during the third quarter valued at approximately $98,000. Quadrature Capital Ltd bought a new position in Torrid in the 3rd quarter worth $104,000. Finally, Verition Fund Management LLC bought a new stake in shares of Torrid during the 3rd quarter valued at $166,000. Institutional investors own 81.82% of the company's stock.

Insider Buying and Selling

In other news, CEO Lisa M. Harper sold 498,087 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 value of $1,892,730.60. Following the transaction, the chief executive officer now owns 5,596,314 shares in the company, valued at $21,265,993.20. This trade represents a 8.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Elizabeth Munoz sold 188,189 shares of the business's 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 owns 1,976,911 shares in the company, valued at $7,512,261.80. The trade was a 8.69 % 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. 9.77% of the stock is owned by company insiders.

Torrid Stock Performance

CURV traded up $0.21 during trading on Thursday, hitting $3.64. The stock had a trading volume of 1,188,629 shares, compared to its average volume of 277,320. The company has a market capitalization of $381.04 million, a PE ratio of 22.87 and a beta of 2.01. Torrid Holdings Inc. has a twelve month low of $2.18 and a twelve month high of $9.14. The stock has a 50 day simple moving average of $3.83 and a two-hundred day simple moving average of $5.77.

Torrid (NYSE:CURV - Get Free Report) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $284.60 million during the quarter, compared to the consensus estimate of $282.87 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.58%. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, equities research analysts anticipate that Torrid Holdings Inc. will post 0.2 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on CURV shares. Telsey Advisory Group lowered their target price on shares of Torrid from $8.00 to $5.00 and set a "market perform" rating on the stock in a report on Wednesday. The Goldman Sachs Group cut their price target on shares of Torrid from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, William Blair raised Torrid from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Torrid has a consensus rating of "Hold" and an average target price of $5.25.

Torrid 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.