Torrid (NYSE:CURV) Trading Down 5.1% - Here's What Happened

Torrid Holdings Inc. (NYSE:CURV - Get Free Report) fell 5.1% during trading on Thursday . The stock traded as low as $4.83 and last traded at $4.83. 141,157 shares were traded during trading, a decline of 63% from the average session volume of 381,863 shares. The stock had previously closed at $5.09.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. The Goldman Sachs Group downgraded shares of Torrid from a "neutral" rating to a "sell" rating and set a $4.00 price objective on the stock. in a research report on Tuesday, April 22nd. Telsey Advisory Group restated a "market perform" rating and issued a $6.00 price target on shares of Torrid in a research note on Monday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Torrid presently has an average rating of "Hold" and an average target price of $4.75.

Torrid Trading Down 1.6%

The firm's fifty day moving average price is $5.45 and its 200-day moving average price is $5.47. The firm has a market cap of $511.20 million, a price-to-earnings ratio of 32.67, a PEG ratio of 1.03 and a beta of 1.78.

Torrid (NYSE:CURV - Get Free Report) last posted 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 negative return on equity of 7.68% and a net margin of 1.35%. The business had revenue of $265.97 million for the quarter, compared to analysts' expectations of $270.95 million. On average, sell-side analysts expect that Torrid Holdings Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Torrid

Several large investors have recently modified their holdings of the company. Rhumbline Advisers raised its position in Torrid by 10.9% in the 4th quarter. Rhumbline Advisers now owns 17,213 shares of the company's stock valued at $90,000 after purchasing an additional 1,685 shares during the last quarter. Bravias Capital Group LLC acquired a new stake in shares of Torrid during the fourth quarter worth about $137,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Torrid by 15.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 101,722 shares of the company's stock worth $532,000 after buying an additional 13,781 shares during the period. Royce & Associates LP purchased a new position in shares of Torrid during the fourth quarter worth about $116,000. Finally, Corebridge Financial Inc. increased its position in Torrid by 53.6% in the 4th quarter. Corebridge Financial Inc. now owns 10,052 shares of the company's stock valued at $53,000 after acquiring an additional 3,509 shares during the period. 81.82% of the stock is owned by institutional investors and hedge funds.

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, 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.