Insider Selling: Torrid Holdings Inc. (NYSE:CURV) Major Shareholder Sells 257,833 Shares of Stock

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) major shareholder Fund 1 Investments, Llc sold 257,833 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $2.73, for a total value of $703,884.09. Following the completion of the sale, the insider owned 10,064,856 shares in the company, valued at $27,477,056.88. The trade was a 2.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Fund 1 Investments, Llc also recently made the following trade(s):

• On Thursday, July 3rd, Fund 1 Investments, Llc sold 250,000 shares of Torrid stock. The stock was sold at an average price of $2.74, for a total value of $685,000.00.
• On Friday, June 27th, Fund 1 Investments, Llc bought 8,500 shares of Torrid stock. The shares were bought at an average cost of $3.20 per share, with a total value of $27,200.00.

Torrid Price Performance

Shares of CURV stock traded up $0.08 during trading on Friday, reaching $2.84. The company's stock had a trading volume of 886,272 shares, compared to its average volume of 457,259. The company has a market capitalization of $298.26 million, a price-to-earnings ratio of 28.40, a P/E/G ratio of 1.90 and a beta of 1.59. Torrid Holdings Inc. has a 1-year low of $2.18 and a 1-year high of $9.14. The stock's 50-day moving average price is $5.01 and its 200 day moving average price is $5.49.

Torrid (NYSE:CURV - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. Torrid had a net margin of 0.92% and a negative return on equity of 5.31%. The firm had revenue of $265.97 million during the quarter, compared to the consensus estimate of $270.95 million. On average, sell-side analysts anticipate that Torrid Holdings Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Torrid

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in Torrid by 10.9% during the 4th quarter. Rhumbline Advisers now owns 17,213 shares of the company's stock worth $90,000 after purchasing an additional 1,685 shares during the period. Corebridge Financial Inc. boosted its stake in shares of Torrid by 53.6% during the 4th quarter. Corebridge Financial Inc. now owns 10,052 shares of the company's stock worth $53,000 after acquiring an additional 3,509 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Torrid by 55.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company's stock worth $59,000 after buying an additional 4,013 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Torrid by 150.7% during the 4th quarter. Wells Fargo & Company MN now owns 9,447 shares of the company's stock worth $49,000 after purchasing an additional 5,678 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Torrid by 19.3% during the first quarter. Bank of New York Mellon Corp now owns 40,335 shares of the company's stock valued at $221,000 after acquiring an additional 6,532 shares during the last quarter. Hedge funds and other institutional investors own 81.82% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CURV. Telsey Advisory Group restated a "market perform" rating and issued a $6.00 price objective on shares of Torrid in a report on Monday, June 2nd. The Goldman Sachs Group lowered Torrid from a "neutral" rating to a "sell" rating and set a $4.00 price objective for the company. in a research report on Tuesday, April 22nd. Finally, BTIG Research assumed coverage on Torrid in a research report on Thursday, June 12th. They set a "neutral" rating for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Torrid currently has a consensus rating of "Hold" and an average 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.