Key Points
- Fund 1 Investments, LLC sold 25,000 Torrid shares on Dec. 3 at an average price of $1.31 for $32,750, leaving it with 9,904,856 shares (a ~0.25% reduction in its stake).
- Torrid missed the quarter with EPS of ($0.06) vs. consensus ($0.01) and revenue of $235.15M vs. $239.90M, posting a small negative net margin and weak recent price performance.
- Analysts have cut targets and ratings recently (Goldman Sachs to $0.75/sell, Morgan Stanley $1.01/underweight, BofA $2.00/buy), and the consensus rating is "Reduce" with a $1.44 target.
Torrid Holdings Inc. (NYSE:CURV - Get Free Report) major shareholder Fund 1 Investments, Llc sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $1.31, for a total value of $32,750.00. Following the sale, the insider owned 9,904,856 shares of the company's stock, valued at approximately $12,975,361.36. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Torrid Price Performance
Shares of NYSE:CURV opened at $1.16 on Friday. The business's 50 day moving average price is $1.37 and its 200-day moving average price is $2.52. The firm has a market capitalization of $114.54 million, a PE ratio of -115.50, a P/E/G ratio of 4.04 and a beta of 1.47. Torrid Holdings Inc. has a 1 year low of $1.08 and a 1 year high of $7.19.
Torrid (NYSE:CURV - Get Free Report) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The firm had revenue of $235.15 million during the quarter, compared to analyst estimates of $239.90 million. Torrid had a negative net margin of 0.18% and a negative return on equity of 1.69%. During the same period in the prior year, the company posted ($0.01) earnings per share. As a group, analysts expect that Torrid Holdings Inc. will post 0.14 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on CURV shares. The Goldman Sachs Group decreased their price target on shares of Torrid from $1.50 to $0.75 and set a "sell" rating on the stock in a research note on Friday. Morgan Stanley reiterated an "underweight" rating and issued a $1.01 price objective on shares of Torrid in a report on Thursday. Zacks Research upgraded Torrid from a "strong sell" rating to a "hold" rating in a report on Wednesday, November 19th. BTIG Research restated a "neutral" rating on shares of Torrid in a research report on Friday, September 5th. Finally, Bank of America cut their price target on Torrid from $6.00 to $2.00 and set a "buy" rating for the company in a report on Thursday. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Torrid currently has a consensus rating of "Reduce" and a consensus target price of $1.44.
Get Our Latest Stock Analysis on Torrid
Institutional Investors Weigh In On Torrid
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CURV. Nomura Holdings Inc. lifted its stake in shares of Torrid by 94.8% in the 3rd quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company's stock valued at $10,908,000 after purchasing an additional 3,034,083 shares during the last quarter. Bank of America Corp DE raised its holdings in Torrid by 191.1% in the 2nd quarter. Bank of America Corp DE now owns 1,917,793 shares of the company's stock valued at $5,657,000 after buying an additional 1,258,934 shares during the period. Fund 1 Investments LLC lifted its position in Torrid by 12.4% in the second quarter. Fund 1 Investments LLC now owns 10,433,112 shares of the company's stock valued at $30,778,000 after buying an additional 1,150,726 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Torrid during the third quarter worth about $1,453,000. Finally, Millennium Management LLC acquired a new stake in shares of Torrid during the third quarter valued at about $669,000. Institutional investors and hedge funds own 81.82% of the company's stock.
About Torrid
(
Get Free Report)
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.
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