Sycamore Partners Torrid, L.L. Sells 15,680,908 Shares of Torrid Holdings Inc. (NYSE:CURV) Stock

Torrid Holdings Inc. (NYSE:CURV) major shareholder Sycamore Partners Torrid, L.L. sold 15,680,908 shares of the company’s stock in a transaction that occurred on 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 directly owned 58,295,694 shares of the company’s stock, valued at $193,541,704.08. The trade was a 21.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Torrid Stock Down 5.8%

Shares of Torrid stock opened at $2.78 on Wednesday. Torrid Holdings Inc. has a twelve month low of $2.18 and a twelve month high of $9.14. The company has a 50-day simple moving average of $5.20 and a two-hundred day simple moving average of $5.52. The stock has a market capitalization of $291.96 million, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.94 and a beta of 1.60.

Torrid (NYSE:CURV) last issued 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. The company had revenue of $265.97 million during the quarter, compared to analysts’ expectations of $270.95 million. Torrid had a net margin of 0.92% and a negative return on equity of 5.31%. On average, sell-side analysts anticipate that Torrid Holdings Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Torrid

Several hedge funds and other institutional investors have recently made changes to their positions in CURV. Nomura Holdings Inc. grew its holdings in Torrid by 19.5% during the 1st quarter. Nomura Holdings Inc. now owns 3,254,537 shares of the company’s stock worth $17,835,000 after acquiring an additional 531,713 shares during the last quarter. Shay Capital LLC boosted its stake in shares of Torrid by 140.2% in the 4th quarter. Shay Capital LLC now owns 478,880 shares of the company’s stock valued at $2,505,000 after purchasing an additional 279,521 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Torrid by 103.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 437,535 shares of the company’s stock valued at $2,288,000 after acquiring an additional 222,504 shares during the period. Bank of America Corp DE lifted its position in shares of Torrid by 4,794.2% during the 4th quarter. Bank of America Corp DE now owns 423,597 shares of the company’s stock valued at $2,215,000 after acquiring an additional 414,942 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Torrid by 33.8% during the 4th quarter. Geode Capital Management LLC now owns 347,808 shares of the company’s stock valued at $1,819,000 after acquiring an additional 87,879 shares during the period. 81.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

CURV has been the subject of several research reports. The Goldman Sachs Group downgraded shares of Torrid from a “neutral” rating to a “sell” rating and set a $4.00 price objective for the company. in a research report on Tuesday, April 22nd. BTIG Research assumed coverage on shares of Torrid in a research report on Thursday, June 12th. They issued a “neutral” rating for the company. Finally, Telsey Advisory Group restated a “market perform” rating and set a $6.00 target price on shares of Torrid in a research note on Monday, June 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.75.

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.