Boston Partners Acquires New Shares in Torrid Holdings Inc. (NYSE:CURV)

Posted by on May 10th, 2023

Boston Partners bought a new position in shares of Torrid Holdings Inc. (NYSE:CURV – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 158,422 shares of the company’s stock, valued at approximately $469,000. Boston Partners owned about 0.15% of Torrid at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. American International Group Inc. lifted its position in Torrid by 34.8% during the 1st quarter. American International Group Inc. now owns 9,147 shares of the company’s stock worth $55,000 after acquiring an additional 2,362 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Torrid by 76.7% during the first quarter. JPMorgan Chase & Co. now owns 8,640 shares of the company’s stock valued at $52,000 after buying an additional 3,750 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Torrid by 15.8% during the third quarter. Bank of New York Mellon Corp now owns 43,510 shares of the company’s stock valued at $182,000 after buying an additional 5,926 shares during the last quarter. Rhumbline Advisers raised its position in shares of Torrid by 64.7% during the first quarter. Rhumbline Advisers now owns 16,963 shares of the company’s stock valued at $103,000 after buying an additional 6,661 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Torrid during the first quarter valued at about $49,000. Institutional investors and hedge funds own 83.87% of the company’s stock.

Torrid Stock Down 2.6 %

NYSE CURV opened at $3.73 on Wednesday. The stock has a market cap of $387.29 million, a P/E ratio of 7.77, a PEG ratio of 0.66 and a beta of 1.16. The company’s 50-day simple moving average is $3.38 and its 200 day simple moving average is $3.56. Torrid Holdings Inc. has a twelve month low of $2.19 and a twelve month high of $8.29.

Torrid (NYSE:CURV – Get Rating) last issued its quarterly earnings data on Thursday, March 23rd. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. The firm had revenue of $301.23 million for the quarter, compared to analysts’ expectations of $292.08 million. Torrid had a net margin of 3.98% and a negative return on equity of 21.08%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. Research analysts anticipate that Torrid Holdings Inc. will post 0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CURV shares. Morgan Stanley cut their price objective on shares of Torrid from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Friday, March 24th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Torrid in a research report on Friday, March 24th. Robert W. Baird cut their price objective on shares of Torrid from $7.00 to $5.50 and set an “outperform” rating for the company in a research report on Friday, March 24th. Finally, Jefferies Financial Group cut shares of Torrid from a “buy” rating to a “hold” rating and lowered their target price for the company from $7.00 to $3.00 in a research note on Wednesday, February 15th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.67.

Torrid Profile

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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 and Torrid Curve 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.

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Institutional Ownership by Quarter for Torrid (NYSE:CURV)

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