Millennium Management LLC recently announced the acquisition of new stake in Torrid Holdings Inc. (NYSE:CURV). The institutional investor has increased its shareholding in the Consumer Cyclical company by 71.56% to 0.26 million shares with purchase of 0.11 million shares. This fresh investment now brings its stake to 0.25% valued currently at $0.77 million. In addition, Geode Capital Management LLC raised its holdings by 7737.0 to 0.22 million shares. And Norges Bank Investment Management has lifted its position by 191.69% or 95846.0 shares – to 0.15 million shares.
With over 74149.0 Torrid Holdings Inc. (CURV) shares trading Tuesday and a closing price of $3.51 on the day, the dollar volume was approximately $0.26 million. The shares have shown a negative half year performance of -16.43% and its price on 01/24/23 gained nearly 1.45%. Currently, there are 103.62M common shares owned by the public and among those 93.03M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for CURV have a consensus price objective of $5.36. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $3.50. The average price target is 34.88% above its recent price level and a downside to the estimated low will see the stock lose -0.29% over that period. But an upside of 49.86% will see the stock hit the forecast high price target while median target price for the stock is $5.00.
Insiders at the company have transacted a total of 34 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 743,972 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 112,226 shares.
The top 3 mutual fund holders in Torrid Holdings Inc. are iShares Russell 2000 ETF, WisdomTree Tr. – Small Cap Earnin, and Vanguard Explorer Fund. iShares Russell 2000 ETF owns 0.38 million shares of the company’s stock, all valued at over $1.11 million. The company sold 3904.0 shares recently to bring their total holdings to about 0.36% of the shares outstanding. Vanguard Explorer Fund now owns shares totaling to 0.15% of the shares outstanding.
Shares of Torrid Holdings Inc. (NYSE: CURV) opened at $3.48, up $0.02 from a prior closing price of $3.46. However, the script later moved the day high at 3.5600, up 1.45%. The company’s stock has a 5-day price change of -4.10% and -26.72% over the past three months. CURV shares are trading 18.58% year to date (YTD), with the 12-month market performance down to -56.88% lower. It has a 12-month low price of $2.59 and touched a high of $9.64 over the same period. CURV has an average intraday trading volume of 179.58K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.35%, -2.63%, and -27.59% respectively.
Institutional ownership of Torrid Holdings Inc. (NYSE: CURV) shares accounts for 84.00% of the company’s 103.62M shares outstanding. Mutual fund holders own 2.83%, while other institutional holders and individual stakeholders account for 4.90% and 1.75% respectively.
It has a market capitalization of $347.67M. The stock’s trailing 12-month PE ratio is 11.43, while the earnings-per-share (ttm) stands at $0.31. The company has a PEG of 0.81 and a Quick Ratio of 0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.16% over the week and 9.37% over the month.
Analysts forecast that Torrid Holdings Inc. (CURV) will achieve an EPS of $0.11 for the current quarter, $0.06 for the next quarter and $0.77 for 2024. The lowest estimate earnings-per-share for the quarter is $0.1 while analysts give the company a high EPS estimate of $0.13. Comparatively, EPS for the current quarter was $0.25 a year ago. Earnings per share for the fiscal year are expected to decrease by -222.20%, and 18.79% over the next financial year. EPS should grow at an annualized rate of 14.20% over the next five years, compared to -0.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Torrid Holdings Inc. (CURV) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 4 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CURV, a number of firms have released research notes about the stock. Telsey Advisory Group stated their Outperform rating for the stock in a research note on December 09, 2022, with the firm’s price target at $7-$6. Morgan Stanley was of a view on September 22, 2022 that the stock is Equal-Weight, while Telsey Advisory Group gave the stock Outperform rating on August 04, 2022, issuing a price target of $12- $8. Cowen on their part issued Market Perform rating on July 15, 2022.
