Torrid Holdings Inc. (NYSE:CURV) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Torrid Holdings Inc. has received an average broker recommendation of "Hold", with two analysts giving a sell rating, two a hold rating, and two a buy rating.
• Major shareholder Sycamore Partners sold approximately 15.68 million shares at an average price of $3.32, reducing their ownership by 21.20%.
• The company's stock opened at $2.52 and has a market cap of $264.34 million, experiencing a one-year low of $2.18 and a high of $8.50.

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) has been given a consensus recommendation of "Hold" by the six research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.75.

A number of research analysts have issued reports on the stock. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $6.00 target price on shares of Torrid in a report on Monday, June 2nd. BTIG Research began coverage on shares of Torrid in a research note on Thursday, June 12th. They set a "neutral" rating for the company. Finally, The Goldman Sachs Group cut shares of Torrid from a "neutral" rating to a "sell" rating and set a $4.00 price objective for the company. in a research note on Tuesday, April 22nd.

Torrid Trading Down 5.3%

Torrid stock traded down $0.14 during trading on Friday, hitting $2.43. The company had a trading volume of 245,655 shares, compared to its average volume of 428,934. The company's 50 day simple moving average is $3.74 and its 200-day simple moving average is $5.09. The stock has a market cap of $254.67 million, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.64 and a beta of 1.57. Torrid has a 1-year low of $2.18 and a 1-year high of $8.02.

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

Insider Transactions at Torrid

In related news, major shareholder Sycamore Partners Torrid, L.L. sold 15,680,908 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $3.32, for a total transaction of $52,060,614.56. Following the completion of the sale, the insider owned 58,295,694 shares of the company's stock, valued at $193,541,704.08. This represents a 21.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Fund 1 Investments, Llc sold 250,000 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $2.74, for a total transaction of $685,000.00. Following the completion of the sale, the insider directly owned 9,814,856 shares of the company's stock, valued at approximately $26,892,705.44. This represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,538,741 shares of company stock valued at $54,611,499. Insiders own 9.77% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN raised its stake in Torrid by 150.7% during the fourth quarter. Wells Fargo & Company MN now owns 9,447 shares of the company's stock worth $49,000 after acquiring an additional 5,678 shares in the last quarter. Corebridge Financial Inc. increased its stake in shares of Torrid by 53.6% in the fourth quarter. Corebridge Financial Inc. now owns 10,052 shares of the company's stock valued at $53,000 after buying an additional 3,509 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Torrid by 55.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,189 shares of the company's stock valued at $59,000 after buying an additional 4,013 shares during the period. Deutsche Bank AG acquired a new position in shares of Torrid in the first quarter valued at approximately $68,000. Finally, Two Sigma Advisers LP acquired a new stake in Torrid during the 4th quarter valued at approximately $80,000. 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.