Torrid (NYSE:CURV) Shares Down 7.4%

Torrid Holdings Inc. (NYSE:CURV)’s stock price traded down 7.4% on Friday . The stock traded as low as $7.16 and last traded at $7.17. 10,471 shares were traded during trading, a decline of 91% from the average session volume of 110,572 shares. The stock had previously closed at $7.74.

Wall Street Analysts Forecast Growth

CURV has been the subject of a number of recent analyst reports. Morgan Stanley lowered shares of Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a report on Thursday, July 18th. Telsey Advisory Group boosted 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 investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.96.

Torrid Stock Down 0.4 %

The firm has a market capitalization of $804.54 million, a price-to-earnings ratio of 70.36 and a beta of 2.05. The firm’s 50 day moving average is $7.48 and its 200 day moving average is $5.82.

Torrid (NYSE:CURV) last posted its quarterly 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 firm had revenue of $279.77 million for the quarter, compared to analyst estimates of $280.15 million. During the same period in the previous year, the firm earned $0.11 earnings per share. Torrid’s quarterly revenue was down 4.8% on a year-over-year basis. On average, sell-side analysts predict that Torrid Holdings Inc. will post 0.18 earnings per share for the current year.

Hedge Funds Weigh In On Torrid

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CURV. Nisa Investment Advisors LLC bought a new stake in shares of Torrid during the fourth quarter valued at approximately $62,000. Great Lakes Advisors LLC bought a new stake in Torrid in the 4th quarter valued at $93,000. Ritholtz Wealth Management raised its stake in shares of Torrid by 161.0% in the 2nd quarter. Ritholtz Wealth Management now owns 38,180 shares of the company’s stock valued at $286,000 after buying an additional 23,553 shares in the last quarter. O Shaughnessy Asset Management LLC lifted 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 acquiring an additional 50,466 shares during the period. Finally, Fund 1 Investments LLC boosted its position in shares of Torrid by 493.6% during the 4th quarter. Fund 1 Investments LLC now owns 200,641 shares of the company’s stock valued at $1,158,000 after acquiring 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.