Torrid (NYSE:CURV) Receives “Market Perform” Rating from Telsey Advisory Group

Torrid (NYSE:CURV)‘s stock had its “market perform” rating reissued by equities researchers at Telsey Advisory Group in a report issued on Monday,Benzinga reports. They currently have a $8.00 price target on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 101.51% from the stock’s previous close.

Other equities analysts have also issued reports about the company. William Blair raised Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group dropped their price target on Torrid from $7.00 to $4.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. One 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. According to MarketBeat, Torrid presently has an average rating of “Hold” and a consensus price target of $6.13.

Torrid Stock Performance

NYSE:CURV opened at $3.97 on Monday. The stock has a 50-day simple moving average of $3.84 and a two-hundred day simple moving average of $5.85. Torrid has a 52-week low of $2.18 and a 52-week high of $9.14. The firm has a market capitalization of $415.58 million, a PE ratio of 30.54 and a beta of 1.96.

Torrid (NYSE:CURV) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $282.87 million. Torrid had a negative return on equity of 6.77% and a net margin of 1.21%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. Equities analysts forecast that Torrid will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Elizabeth Munoz sold 188,189 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 value of $715,118.20. Following the transaction, the insider now directly owns 1,976,911 shares in the company, valued at approximately $7,512,261.80. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sycamore Partners Torrid, L.L. sold 7,282,942 shares of Torrid stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.80, for a total value of $27,675,179.60. Following the completion of the transaction, the insider now owns 75,069,044 shares in the company, valued at $285,262,367.20. This represents a 8.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,164,601 shares of company stock worth $34,825,484 in the last ninety days. 9.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its holdings in shares of Torrid by 354.5% in the 3rd quarter. Barclays PLC now owns 17,416 shares of the company’s stock valued at $69,000 after acquiring an additional 13,584 shares during the period. Geode Capital Management LLC increased its holdings in shares of Torrid by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 259,929 shares of the company’s stock valued at $1,022,000 after acquiring an additional 26,703 shares during the period. XTX Topco Ltd purchased a new position in shares of Torrid in the 3rd quarter valued at $145,000. Quadrature Capital Ltd purchased a new position in shares of Torrid in the 3rd quarter valued at $104,000. Finally, Maven Securities LTD purchased a new position in Torrid during the 3rd quarter worth $98,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

Torrid Company Profile

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.