Torrid (NYSE:CURV) Shares Gap Down to $7.92

Torrid Holdings Inc. (NYSE:CURV)’s share price gapped down prior to trading on Monday . The stock had previously closed at $7.92, but opened at $7.75. Torrid shares last traded at $7.75, with a volume of 10,754 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CURV. Morgan Stanley cut Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Thursday, July 18th. Telsey Advisory Group raised their price objective on Torrid from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.96.

Torrid Stock Performance

The stock has a market capitalization of $793.06 million, a PE ratio of 69.09 and a beta of 2.05. The stock’s 50 day moving average is $7.54 and its two-hundred day moving average is $5.88.

Torrid (NYSE:CURV) last released its earnings results on Wednesday, June 12th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.05. Torrid had a negative return on equity of 5.79% and a net margin of 1.05%. The business had revenue of $279.77 million for the quarter, compared to the consensus estimate of $280.15 million. During the same quarter last year, the business posted $0.11 earnings per share. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. Equities research analysts expect that Torrid Holdings Inc. will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Torrid

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC purchased a new position in shares of Torrid in the fourth quarter worth about $62,000. Great Lakes Advisors LLC purchased a new position in Torrid in the 4th quarter worth approximately $93,000. Ritholtz Wealth Management lifted its stake in Torrid by 161.0% in the 2nd quarter. Ritholtz Wealth Management now owns 38,180 shares of the company’s stock worth $286,000 after purchasing an additional 23,553 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Torrid by 145.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 85,162 shares of the company’s stock worth $416,000 after purchasing an additional 50,466 shares during the last quarter. Finally, Fund 1 Investments LLC grew its position in shares of Torrid by 493.6% in the fourth quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock valued at $1,158,000 after purchasing an additional 166,841 shares in the last quarter. Institutional investors and hedge funds 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, 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.