Torrid’s (CURV) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Torrid (NYSE:CURV) in a report published on Monday,Benzinga reports. Telsey Advisory Group currently has a $8.00 price target on the stock.

CURV has been the subject of a number of other reports. The Goldman Sachs Group reduced their price target on shares of Torrid from $7.00 to $4.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. William Blair upgraded shares of Torrid from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.13.

Torrid Trading Up 1.6 %

CURV stock opened at $4.04 on Monday. The stock’s 50 day simple moving average is $3.83 and its 200 day simple moving average is $5.84. Torrid has a 12-month low of $2.18 and a 12-month high of $9.14. The stock has a market capitalization of $422.38 million, a PE ratio of 31.31 and a beta of 1.96.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Torrid had a negative return on equity of 6.77% and a net margin of 1.21%. The firm had revenue of $284.60 million for the quarter, compared to the consensus estimate of $282.87 million. During the same period in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that Torrid will post 0.2 earnings per share for the current year.

Insider Activity

In related news, CEO Lisa M. Harper sold 498,087 shares of Torrid stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.80, for a total transaction of $1,892,730.60. Following the transaction, the chief executive officer now directly owns 5,596,314 shares in the company, valued at approximately $21,265,993.20. The trade was a 8.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.80, for a total value of $27,675,179.60. Following the completion of the sale, the insider now owns 75,069,044 shares of the company’s stock, valued at approximately $285,262,367.20. The trade was a 8.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,164,601 shares of company stock valued at $34,825,484 in the last quarter. 9.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CURV. Barclays PLC lifted its stake in shares of Torrid by 354.5% during the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock valued at $69,000 after buying an additional 13,584 shares in the last quarter. Maven Securities LTD bought a new stake in Torrid during the third quarter valued at about $98,000. Quadrature Capital Ltd purchased a new position in shares of Torrid in the third quarter valued at about $104,000. XTX Topco Ltd bought a new position in shares of Torrid in the third quarter worth about $145,000. Finally, Ritholtz Wealth Management grew its position in shares of Torrid by 161.0% during the second 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. 81.82% of the stock is currently owned by institutional investors.

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.