Torrid Holdings Inc. (NYSE:CURV) Short Interest Down 20.7% in April

Torrid Holdings Inc. (NYSE:CURV) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 2,330,000 shares, a decrease of 20.7% from the March 31st total of 2,940,000 shares. Based on an average daily volume of 309,000 shares, the days-to-cover ratio is presently 7.5 days. Currently, 11.4% of the company’s shares are short sold.

Torrid Stock Performance

Shares of Torrid stock opened at $6.45 on Friday. Torrid has a 52 week low of $2.18 and a 52 week high of $9.14. The stock has a 50 day moving average price of $5.57 and a two-hundred day moving average price of $5.21. The stock has a market capitalization of $672.39 million, a PE ratio of 42.97, a price-to-earnings-growth ratio of 1.03 and a beta of 1.96.

Torrid (NYSE:CURV) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.04. The firm had revenue of $275.60 million for the quarter, compared to the consensus estimate of $263.34 million. Torrid had a net margin of 1.35% and a negative return on equity of 7.68%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) earnings per share. Research analysts forecast that Torrid will post 0.14 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CURV shares. Morgan Stanley boosted their target price on shares of Torrid from $3.00 to $4.00 and gave the company an “underweight” rating in a report on Tuesday, January 21st. Telsey Advisory Group boosted their price objective on Torrid from $5.00 to $6.00 and gave the company a “market perform” rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group cut Torrid from a “neutral” rating to a “sell” rating and set a $4.00 target price for the company. in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.75.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in Torrid by 103.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 437,535 shares of the company’s stock worth $2,288,000 after buying an additional 222,504 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Torrid by 15.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 101,722 shares of the company’s stock worth $532,000 after purchasing an additional 13,781 shares during the last quarter. Geode Capital Management LLC raised its stake in Torrid by 11.4% in the third 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. Barclays PLC lifted its position in Torrid by 354.5% during the third quarter. Barclays PLC now owns 17,416 shares of the company’s stock valued at $69,000 after purchasing an additional 13,584 shares during the last quarter. Finally, Corebridge Financial Inc. lifted its position in Torrid by 53.6% during the fourth quarter. Corebridge Financial Inc. now owns 10,052 shares of the company’s stock valued at $53,000 after purchasing an additional 3,509 shares during the last quarter. Institutional investors 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.