Torrid Holdings Inc. (NYSE:CURV) Major Shareholder Sells $27,675,179.60 in Stock

Torrid Holdings Inc. (NYSE:CURV) major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the company’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 value 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Torrid Price Performance

Shares of NYSE CURV opened at $4.01 on Friday. The stock has a market capitalization of $419.77 million, a price-to-earnings ratio of 36.46 and a beta of 2.01. The firm’s 50 day simple moving average is $7.23 and its 200-day simple moving average is $6.11. Torrid Holdings Inc. has a 12 month low of $1.23 and a 12 month high of $9.14.

Torrid (NYSE:CURV) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $282.87 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts anticipate that Torrid Holdings Inc. will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Torrid

A number of large investors have recently bought and sold shares of CURV. Great Lakes Advisors LLC purchased a new position in Torrid during the fourth quarter valued at $93,000. 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 purchasing an additional 23,553 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake 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, Fund 1 Investments LLC boosted its holdings in Torrid by 493.6% in the 4th quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock worth $1,158,000 after buying an additional 166,841 shares during the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CURV shares. Morgan Stanley cut shares of Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research note on Thursday, July 18th. Telsey Advisory Group restated a “market perform” rating and set a $8.00 target price on shares of Torrid in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.45.

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.