Short Interest in Torrid Holdings Inc. (NYSE:CURV) Grows By 39.7%

Torrid Holdings Inc. (NYSE:CURV) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 666,600 shares, an increase of 39.7% from the September 15th total of 477,300 shares. Based on an average trading volume of 494,500 shares, the short-interest ratio is currently 1.3 days. Approximately 3.4% of the shares of the stock are short sold.

Insider Activity

In other news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of Torrid stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.80, for a total transaction of $27,675,179.60. Following the sale, the insider now directly owns 75,069,044 shares in the company, valued at approximately $285,262,367.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of Torrid stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.80, for a total transaction of $27,675,179.60. Following the completion of the transaction, the insider now directly owns 75,069,044 shares of the company’s stock, valued at $285,262,367.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Elizabeth Munoz sold 28,228 shares of Torrid stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $3.80, for a total transaction of $107,266.40. Following the transaction, the insider now directly owns 1,948,683 shares of the company’s stock, valued at $7,404,995.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,164,601 shares of company stock worth $34,825,484. Corporate insiders own 9.77% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Torrid stock. Ritholtz Wealth Management raised its holdings in shares of Torrid Holdings Inc. (NYSE:CURV) by 161.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,180 shares of the company’s stock after purchasing an additional 23,553 shares during the quarter. Ritholtz Wealth Management’s holdings in Torrid were worth $286,000 as of its most recent SEC filing. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

Torrid Trading Up 16.4 %

CURV traded up $0.55 during trading on Friday, reaching $3.91. 873,099 shares of the company’s stock were exchanged, compared to its average volume of 236,943. Torrid has a one year low of $1.81 and a one year high of $9.14. The stock has a market capitalization of $409.30 million, a PE ratio of 30.08 and a beta of 1.95. The firm has a fifty day moving average price of $5.54 and a two-hundred day moving average price of $6.06.

Torrid (NYSE:CURV) last posted its earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $284.60 million for the quarter, compared to analyst estimates of $282.87 million. Torrid had a net margin of 1.21% and a negative return on equity of 6.77%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. Sell-side analysts expect that Torrid will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on CURV shares. Telsey Advisory Group restated a “market perform” rating and set a $8.00 price objective on shares of Torrid in a report on Wednesday, September 4th. William Blair upgraded shares of Torrid from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 17th. Finally, Morgan Stanley lowered shares of Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.44.

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.