Insider Selling: Torrid Holdings Inc. (NYSE:CURV) Major Shareholder Sells 15,680,908 Shares of Stock

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) major shareholder Sycamore Partners Torrid, L.L. sold 15,680,908 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $3.32, for a total transaction of $52,060,614.56. Following the completion of the transaction, the insider directly owned 58,295,694 shares of the company's stock, valued at approximately $193,541,704.08. This trade represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Torrid Price Performance

Shares of NYSE:CURV traded up $0.08 on Thursday, hitting $2.84. The company's stock had a trading volume of 886,272 shares, compared to its average volume of 454,530. The company has a market capitalization of $298.26 million, a PE ratio of 28.40, a PEG ratio of 1.83 and a beta of 1.59. The company has a 50-day simple moving average of $5.14 and a 200 day simple moving average of $5.50. Torrid Holdings Inc. has a 1 year low of $2.18 and a 1 year high of $9.14.

Torrid (NYSE:CURV - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.06 earnings per share for the quarter, beating 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 business had revenue of $265.97 million for the quarter, compared to the consensus estimate of $270.95 million. On average, equities research analysts expect that Torrid Holdings Inc. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of Torrid by 10.9% in 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 in the last quarter. Corebridge Financial Inc. boosted its stake in Torrid by 53.6% in the fourth quarter. Corebridge Financial Inc. now owns 10,052 shares of the company's stock worth $53,000 after buying an additional 3,509 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Torrid by 55.9% in the fourth 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 in the last quarter. Wells Fargo & Company MN grew its position in Torrid by 150.7% during the fourth quarter. Wells Fargo & Company MN now owns 9,447 shares of the company's stock valued at $49,000 after acquiring an additional 5,678 shares during the last quarter. Finally, Bank of New York Mellon Corp raised 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 worth $221,000 after acquiring an additional 6,532 shares in the last quarter. Institutional investors own 81.82% of the company's stock.

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.