Short Interest in Torrid Holdings Inc. (NYSE:CURV) Rises By 7.2%

Torrid Holdings Inc. (NYSE:CURV) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,220,000 shares, an increase of 7.2% from the October 15th total of 2,070,000 shares. Based on an average daily trading volume, of 270,900 shares, the short-interest ratio is presently 8.2 days.

Insider Activity at Torrid

In related news, insider Mark Mizicko purchased 225,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was acquired at an average cost of $1.33 per share, for a total transaction of $299,250.00. Following the completion of the purchase, the insider now owns 2,321,987 shares in the company, valued at approximately $3,088,242.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Torrid

Several hedge funds have recently modified their holdings of CURV. Gilder Gagnon Howe & Co. LLC boosted its holdings in shares of Torrid by 752.9% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 380,729 shares of the company’s stock valued at $1,660,000 after acquiring an additional 336,088 shares in the last quarter. Millennium Management LLC raised its position in Torrid by 936.2% during the 2nd quarter. Millennium Management LLC now owns 152,452 shares of the company’s stock worth $659,000 after purchasing an additional 137,740 shares during the last quarter. BlackRock Inc. raised its position in Torrid by 15.8% during the 1st quarter. BlackRock Inc. now owns 885,970 shares of the company’s stock worth $5,369,000 after purchasing an additional 120,915 shares during the last quarter. Citigroup Inc. raised its position in Torrid by 2,270.7% during the 1st quarter. Citigroup Inc. now owns 77,284 shares of the company’s stock worth $469,000 after purchasing an additional 74,024 shares during the last quarter. Finally, Morgan Stanley raised its position in Torrid by 134.4% during the 4th quarter. Morgan Stanley now owns 128,489 shares of the company’s stock worth $380,000 after purchasing an additional 73,664 shares during the last quarter. Institutional investors and hedge funds own 83.34% of the company’s stock.

Torrid Price Performance

Shares of NYSE CURV traded down $0.03 during mid-day trading on Friday, hitting $3.36. 213,470 shares of the stock traded hands, compared to its average volume of 207,031. Torrid has a twelve month low of $1.21 and a twelve month high of $4.96. The company has a market cap of $349.68 million, a PE ratio of 16.80, a price-to-earnings-growth ratio of 8.08 and a beta of 1.25. The firm has a 50 day simple moving average of $2.16 and a two-hundred day simple moving average of $2.52.

Torrid (NYSE:CURV) last released its quarterly earnings data on Wednesday, September 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.05). Torrid had a net margin of 1.85% and a negative return on equity of 9.83%. The firm had revenue of $289.14 million for the quarter, compared to analyst estimates of $286.69 million. During the same period last year, the business earned $0.22 EPS. The company’s revenue was down 18.2% compared to the same quarter last year. On average, equities research analysts anticipate that Torrid will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CURV shares. Telsey Advisory Group cut their price target on Torrid from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Thursday, September 7th. Robert W. Baird cut Torrid from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $4.00 to $2.50 in a research note on Thursday, September 7th. Bank of America cut Torrid to an “underperform” rating in a research note on Friday, September 8th. The Goldman Sachs Group cut their target price on Torrid from $3.00 to $2.60 and set a “neutral” rating for the company in a research note on Thursday, September 7th. Finally, TD Cowen cut their target price on Torrid from $3.00 to $1.50 and set a “market perform” rating for the company in a research note on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, Torrid currently has an average rating of “Hold” and a consensus target price of $2.80.

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 and Torrid Curve 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.