Torrid (NYSE:CURV) Shares Down 9.3% – Here’s Why

Torrid Holdings Inc. (NYSE:CURV)’s share price fell 9.3% during mid-day trading on Tuesday . The company traded as low as $5.28 and last traded at $5.24. 98,869 shares were traded during trading, a decline of 68% from the average session volume of 311,684 shares. The stock had previously closed at $5.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Tuesday, January 21st. Telsey Advisory Group cut their price objective on shares of Torrid from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on Torrid from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Finally, Bank of America assumed coverage on Torrid in a research report on Friday, December 6th. They issued a “buy” rating and a $5.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.63.

Torrid Trading Down 5.5 %

The firm’s fifty day simple moving average is $6.13 and its two-hundred day simple moving average is $5.01. The company has a market capitalization of $502.83 million, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 1.03 and a beta of 1.99.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. purchased a new stake in Torrid in the fourth quarter valued at $14,240,000. Centiva Capital LP acquired a new position in Torrid in the third quarter valued at about $3,930,000. Bank of America Corp DE boosted its stake in Torrid by 4,794.2% during the fourth quarter. Bank of America Corp DE now owns 423,597 shares of the company’s stock worth $2,215,000 after buying an additional 414,942 shares during the period. Shay Capital LLC boosted its stake in Torrid by 140.2% during the fourth quarter. Shay Capital LLC now owns 478,880 shares of the company’s stock worth $2,505,000 after buying an additional 279,521 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Torrid by 103.5% during the fourth 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 last quarter. 81.82% of the stock is currently owned by institutional investors and hedge funds.

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.