Sycamore Partners Torrid, L.L. Sells 1,092,442 Shares of Torrid Holdings Inc. (NYSE:CURV) Stock

Torrid Holdings Inc. (NYSE:CURV) major shareholder Sycamore Partners Torrid, L.L. sold 1,092,442 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $3.80, for a total value of $4,151,279.60. Following the completion of the transaction, the insider now directly owns 73,976,602 shares of the company’s stock, valued at approximately $281,111,087.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Sycamore Partners Torrid, L.L. also recently made the following trade(s):

• On Friday, September 13th, Sycamore Partners Torrid, L.L. sold 7,282,942 shares of Torrid stock. The stock was sold at an average price of $3.80, for a total transaction of $27,675,179.60.

Torrid Price Performance

Shares of CURV stock opened at $3.99 on Friday. The company has a market cap of $416.36 million, a price-to-earnings ratio of 36.27 and a beta of 2.01. Torrid Holdings Inc. has a 1 year low of $1.25 and a 1 year high of $9.14. The firm has a fifty day moving average price of $6.85 and a 200-day moving average price of $6.08.

Torrid (NYSE:CURV) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Torrid had a negative return on equity of 6.77% and a net margin of 1.21%. The business had revenue of $284.60 million during the quarter, compared to analyst estimates of $282.87 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. Torrid’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts expect that Torrid Holdings Inc. will post 0.19 EPS for the current year.

Institutional Investors Weigh In On Torrid

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CURV. Great Lakes Advisors LLC purchased a new position in Torrid during the fourth quarter valued at approximately $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 valued at $286,000 after purchasing an additional 23,553 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Torrid by 145.5% during 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 period. 81.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley cut Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a report on Thursday, July 18th. Telsey Advisory Group reissued a “market perform” rating and issued a $8.00 target price on shares of Torrid in a report on Wednesday, September 4th. Finally, William Blair upgraded Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.44.

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.