Healthcare of Ontario Pension Plan Trust Fund Invests $3.56 Million in Torrid Holdings Inc. $CURV

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 2 million Torrid shares worth approximately $3.56 million, giving it a 2.01% stake. Institutional investors collectively own 81.82% of CURV.
• Torrid reported quarterly revenue of $245.8 million and break-even EPS, beating analysts’ expectations of $239.88 million in revenue and a $0.02-per-share loss.
• Despite recent trading near $2.60, analyst sentiment remains cautious: CURV has a consensus “Reduce” rating and a $1.64 price target, below its current share price.

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Torrid Holdings Inc. (NYSE:CURV - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,000,000 shares of the company's stock, valued at approximately $3,560,000. Healthcare of Ontario Pension Plan Trust Fund owned about 2.01% of Torrid at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CURV. Nomura Holdings Inc. boosted its position in Torrid by 94.8% during the third quarter. Nomura Holdings Inc. now owns 6,233,022 shares of the company's stock worth $10,908,000 after acquiring an additional 3,034,083 shares during the last quarter. SG Americas Securities LLC acquired a new position in Torrid in the 1st quarter valued at $3,387,000. Bank of America Corp DE lifted its stake in shares of Torrid by 191.1% during the 2nd quarter. Bank of America Corp DE now owns 1,917,793 shares of the company's stock worth $5,657,000 after purchasing an additional 1,258,934 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Torrid during the third quarter worth about $1,453,000. Finally, Millennium Management LLC purchased a new position in Torrid during the third quarter worth about $669,000. Hedge funds and other institutional investors own 81.82% of the company's stock.

Torrid Trading Down 5.3%

CURV stock opened at $2.60 on Friday. The company has a market cap of $259.25 million, a PE ratio of -21.71 and a beta of 0.89. The stock has a 50-day moving average price of $1.94 and a two-hundred day moving average price of $1.61. Torrid Holdings Inc. has a 12-month low of $0.94 and a 12-month high of $2.86.

Torrid (NYSE:CURV - Get Free Report) last released its quarterly earnings data on Thursday, June 4th. The company reported $0.00 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.02. The firm had revenue of $245.80 million during the quarter, compared to analysts' expectations of $239.88 million. Equities analysts forecast that Torrid Holdings Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CURV. BTIG Research restated a "neutral" rating on shares of Torrid in a report on Friday, June 5th. Zacks Research lowered shares of Torrid from a "strong-buy" rating to a "hold" rating in a report on Monday, June 15th. Morgan Stanley reissued an "equal weight" rating and issued a $1.80 target price on shares of Torrid in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Torrid from a "sell" rating to a "hold" rating in a report on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Torrid in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $1.64.

About Torrid

Torrid, trading under the ticker CURV on the New York Stock Exchange, is a specialty retailer focused on plus-size women's fashion. Established in 2001 as a division of Hot Topic, Torrid has built its reputation on offering trend-driven apparel and accessories designed specifically for women who wear size 10 to 30. The company's product assortment spans casual wear, denim, activewear, intimates, footwear, and fashion‐forward accessories, catering to a demographic that has historically been underserved by mainstream retailers.

Over the years, Torrid has expanded from its early mall‐based store footprint to become a multichannel business.

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