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

Torrid Holdings Inc. (NYSE:CURV) saw a significant increase in short interest in the month of 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 daily trading volume, of 494,500 shares, the days-to-cover ratio is currently 1.3 days. Approximately 3.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CURV. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $8.00 target price on shares of Torrid in a research note on Wednesday, September 4th. William Blair raised shares of Torrid from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley downgraded shares of Torrid from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.44.

Insider Activity at Torrid

In other Torrid news, insider Elizabeth Munoz sold 28,228 shares of the company’s 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Lisa M. Harper sold 498,087 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.80, for a total value of $1,892,730.60. Following the sale, the chief executive officer now directly owns 5,596,314 shares of the company’s stock, valued at approximately $21,265,993.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Elizabeth Munoz sold 28,228 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $3.80, for a total transaction of $107,266.40. Following the completion of the sale, the insider now directly owns 1,948,683 shares in the company, valued at approximately $7,404,995.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,164,601 shares of company stock worth $34,825,484. 9.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Torrid Price Performance

NYSE CURV traded up $0.55 on Friday, reaching $3.91. 873,099 shares of the company’s stock traded hands, compared to its average volume of 236,943. Torrid has a 12 month low of $1.81 and a 12 month high of $9.14. The stock has a 50-day simple moving average of $5.54 and a 200 day simple moving average of $6.06. The stock has a market cap of $409.30 million, a PE ratio of 30.08 and a beta of 1.95.

Torrid (NYSE:CURV) last issued its earnings results on Wednesday, September 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Torrid had a net margin of 1.21% and a negative return on equity of 6.77%. The firm had revenue of $284.60 million for the quarter, compared to analysts’ expectations of $282.87 million. During the same quarter last year, the business earned $0.06 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. As a group, analysts anticipate that Torrid will post 0.19 EPS for the current year.

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.