Torrid (NYSE:CURV) Trading Down 7.2% - Here's What Happened

Torrid Holdings Inc. (NYSE:CURV - Get Free Report)'s stock price was down 7.2% on Tuesday . The company traded as low as $5.71 and last traded at $5.52. Approximately 33,118 shares traded hands during trading, a decline of 89% from the average daily volume of 309,960 shares. The stock had previously closed at $5.95.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CURV. Morgan Stanley boosted their price objective on shares of Torrid from $3.00 to $4.00 and gave the company an "underweight" rating in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted their price target on Torrid from $4.50 to $5.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Bank of America initiated coverage on Torrid in a report on Friday, December 6th. They issued a "buy" rating and a $5.00 price objective on the stock. Finally, Telsey Advisory Group boosted their target price on Torrid from $5.00 to $6.00 and gave the stock a "market perform" rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Torrid presently has a consensus rating of "Hold" and a consensus target price of $5.00.

Torrid Stock Performance

The firm has a fifty day moving average of $6.06 and a 200-day moving average of $4.93. The stock has a market capitalization of $559.93 million, a price-to-earnings ratio of 35.63, a P/E/G ratio of 1.03 and a beta of 1.99.

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Torrid (NYSE:CURV - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.04. The business had revenue of $275.60 million during the quarter, compared to analyst estimates of $263.34 million. Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.04) earnings per share. On average, analysts predict that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CURV. Two Sigma Advisers LP acquired a new position in Torrid in the 4th quarter worth $80,000. State of Wyoming acquired a new position in shares of Torrid in the fourth quarter worth about $570,000. Shay Capital LLC boosted its holdings in Torrid by 140.2% in the fourth quarter. Shay Capital LLC now owns 478,880 shares of the company's stock valued at $2,505,000 after purchasing an additional 279,521 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Torrid in the fourth quarter valued at about $14,240,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Torrid by 55.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company's stock worth $59,000 after purchasing an additional 4,013 shares during the last quarter. 81.82% of the stock is currently owned by hedge funds and other 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.