Torrid (NYSE:CURV) Shares Down 4%

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) shares traded down 4% during mid-day trading on Wednesday . The company traded as low as $4.80 and last traded at $4.82. 7,378 shares traded hands during trading, a decline of 94% from the average session volume of 117,495 shares. The stock had previously closed at $5.02.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Telsey Advisory Group lifted their price objective on shares of Torrid from $5.00 to $6.00 and gave the company a "market perform" rating in a research note on Monday, April 1st. The Goldman Sachs Group raised their price target on shares of Torrid from $2.95 to $5.75 and gave the stock a "neutral" rating in a research report on Monday, April 1st. Finally, B. Riley initiated coverage on shares of Torrid in a research report on Thursday, February 8th. They set a "buy" rating and a $7.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Torrid presently has a consensus rating of "Hold" and a consensus price target of $4.39.

Torrid Price Performance

The firm has a market cap of $517.48 million, a price-to-earnings ratio of 49.60 and a beta of 1.99. The business's 50-day moving average price is $4.49 and its two-hundred day moving average price is $4.33.

Torrid (NYSE:CURV - Get Free Report) last announced its quarterly earnings results on Thursday, March 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.04. The company had revenue of $293.54 million during the quarter, compared to the consensus estimate of $276.20 million. Torrid had a net margin of 0.99% and a negative return on equity of 5.42%. The company's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Equities analysts predict that Torrid Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Torrid

Several hedge funds have recently made changes to their positions in CURV. Bank of New York Mellon Corp increased its position in shares of Torrid by 3.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 178,039 shares of the company's stock worth $393,000 after purchasing an additional 6,368 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Torrid during the 4th quarter worth approximately $62,000. Great Lakes Advisors LLC acquired a new stake in shares of Torrid during the 4th quarter worth approximately $93,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Torrid during the 3rd quarter worth approximately $54,000. Finally, Fund 1 Investments LLC grew its position in shares of Torrid by 493.6% during the 4th quarter. Fund 1 Investments LLC now owns 200,641 shares of the company's stock worth $1,158,000 after buying an additional 166,841 shares during the period. Hedge funds and other institutional investors own 81.82% of the company's stock.

About Torrid

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 and Torrid Curve 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.