Sycamore Partners Torrid, L.L. Sells 15,680,908 Shares of Torrid Holdings Inc. (NYSE:CURV) Stock

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) major shareholder Sycamore Partners Torrid, L.L. sold 15,680,908 shares of the business's stock in a transaction 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 transaction, the insider directly owned 58,295,694 shares of the company's stock, valued at approximately $193,541,704.08. This represents a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Torrid Stock Down 5.8%

Torrid stock traded down $0.17 on Tuesday, hitting $2.78. The company's stock had a trading volume of 1,248,589 shares, compared to its average volume of 450,275. The firm has a market cap of $291.96 million, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 1.94 and a beta of 1.60. The company has a fifty day moving average price of $5.25 and a 200-day moving average price of $5.54. 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 posted its earnings results on Thursday, June 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $270.95 million. Analysts anticipate that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

CURV has been the topic of a number of research reports. BTIG Research initiated coverage on shares of Torrid in a research report on Thursday, June 12th. They set a "neutral" rating on the stock. The Goldman Sachs Group lowered shares of Torrid from a "neutral" rating to a "sell" rating and set a $4.00 target price on the stock. in a research report on Tuesday, April 22nd. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $6.00 target price on shares of Torrid in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $4.75.

Institutional Investors Weigh In On Torrid

Large investors have recently made changes to their positions in the company. Nomura Holdings Inc. lifted its position in Torrid by 19.5% during the 1st quarter. Nomura Holdings Inc. now owns 3,254,537 shares of the company's stock worth $17,835,000 after buying an additional 531,713 shares in the last quarter. Shay Capital LLC lifted its position in Torrid by 140.2% during the 4th quarter. Shay Capital LLC now owns 478,880 shares of the company's stock worth $2,505,000 after buying an additional 279,521 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Torrid by 103.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 437,535 shares of the company's stock worth $2,288,000 after buying an additional 222,504 shares in the last quarter. Bank of America Corp DE lifted its position in Torrid by 4,794.2% during the 4th 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 in the last quarter. Finally, Geode Capital Management LLC lifted 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 worth $1,819,000 after buying an additional 87,879 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.