Torrid (NYSE:CURV) Shares Up 4.9% – Here’s What Happened

Shares of Torrid Holdings Inc. (NYSE:CURV) rose 4.9% during trading on Friday . The company traded as high as $7.06 and last traded at $7.04. Approximately 265,255 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 284,075 shares. The stock had previously closed at $6.71.

Analyst Upgrades and Downgrades

CURV has been the topic of several recent research reports. Telsey Advisory Group lowered their target price on Torrid from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, December 4th. Bank of America started coverage on Torrid in a report on Friday, December 6th. They issued a “buy” rating and a $5.00 target price for the company. The Goldman Sachs Group cut their price objective on shares of Torrid from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, December 4th. Finally, Morgan Stanley increased their price objective on Torrid from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.00.

Torrid Trading Up 5.5 %

The firm’s fifty day simple moving average is $5.15 and its 200 day simple moving average is $5.33. The company has a market cap of $741.68 million, a price-to-earnings ratio of 47.20, a PEG ratio of 1.92 and a beta of 1.91.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Torrid had a negative return on equity of 7.68% and a net margin of 1.35%. As a group, sell-side analysts expect that Torrid Holdings Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Torrid

Several hedge funds have recently made changes to their positions in CURV. Centiva Capital LP purchased a new stake in Torrid in the 3rd quarter valued at approximately $3,930,000. Geode Capital Management LLC increased its stake in 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 purchasing an additional 26,703 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Torrid by 87.3% during the third quarter. GSA Capital Partners LLP now owns 108,234 shares of the company’s stock worth $425,000 after purchasing an additional 50,439 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Torrid by 8.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 87,941 shares of the company’s stock worth $346,000 after purchasing an additional 6,968 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Torrid in the third quarter valued at $166,000. 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.