Insider Buying: Torrid Holdings Inc. (NYSE:CURV) Major Shareholder Purchases 8,500 Shares of Stock

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) major shareholder Fund 1 Investments, Llc bought 8,500 shares of Torrid stock in a transaction that occurred on Friday, June 27th. The stock was purchased at an average cost of $3.20 per share, for a total transaction of $27,200.00. Following the purchase, the insider owned 10,433,112 shares of the company's stock, valued at $33,385,958.40. The trade was a 0.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Torrid Stock Down 5.8%

Shares of NYSE:CURV traded down $0.17 during midday trading on Tuesday, hitting $2.78. 1,248,589 shares of the stock traded hands, compared to its average volume of 450,275. The business's 50 day moving average is $5.20 and its two-hundred day moving average is $5.52. The stock has a market capitalization of $291.96 million, a PE ratio of 27.80, a P/E/G ratio of 1.94 and a beta of 1.60. Torrid Holdings Inc. has a one year low of $2.18 and a one year high of $9.14.

Torrid (NYSE:CURV - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. The business had revenue of $265.97 million during the quarter, compared to analyst estimates of $270.95 million. Torrid had a negative return on equity of 5.31% and a net margin of 0.92%. As a group, sell-side analysts forecast that Torrid Holdings Inc. will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Torrid

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its holdings in Torrid by 103.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 437,535 shares of the company's stock worth $2,288,000 after purchasing an additional 222,504 shares in the last quarter. Northern Trust Corp lifted its holdings in Torrid by 38.7% in the fourth quarter. Northern Trust Corp now owns 189,580 shares of the company's stock worth $992,000 after buying an additional 52,891 shares during the period. Bank of America Corp DE lifted its holdings in Torrid by 4,794.2% in the fourth quarter. Bank of America Corp DE now owns 423,597 shares of the company's stock worth $2,215,000 after buying an additional 414,942 shares during the period. Geode Capital Management LLC boosted its position in Torrid by 33.8% during the 4th quarter. Geode Capital Management LLC now owns 347,808 shares of the company's stock valued at $1,819,000 after acquiring an additional 87,879 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Torrid by 83.9% during the 4th quarter. Barclays PLC now owns 32,036 shares of the company's stock worth $168,000 after acquiring an additional 14,620 shares during the period. Institutional investors own 81.82% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on CURV. BTIG Research assumed coverage on shares of Torrid in a report on Thursday, June 12th. They issued a "neutral" rating for the company. The Goldman Sachs Group cut Torrid from a "neutral" rating to a "sell" rating and set a $4.00 target price for the company. in a report on Tuesday, April 22nd. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $6.00 price target on shares of Torrid in a research note on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $4.75.

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.