Lord Abbett & CO. LLC Makes New Investment in Torrid Holdings Inc. (NYSE:CURV)

Lord Abbett & CO. LLC acquired a new position in shares of Torrid Holdings Inc. (NYSE:CURV) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,543,018 shares of the company’s stock, valued at approximately $23,809,000. Lord Abbett & CO. LLC owned 1.40% of Torrid at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Torrid during the 3rd quarter worth about $9,158,000. Victory Capital Management Inc. bought a new stake in Torrid during the third quarter worth approximately $1,877,000. Deutsche Bank AG acquired a new stake in Torrid in the third quarter worth approximately $113,000. Finally, SG Americas Securities LLC bought a new position in Torrid during the 3rd quarter valued at $105,000. 14.48% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the company. Zacks Investment Research raised Torrid from a “sell” rating to a “hold” rating in a report on Tuesday, December 7th. Morgan Stanley cut their target price on shares of Torrid from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, December 27th. Telsey Advisory Group dropped their price target on Torrid from $28.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday. Robert W. Baird reduced their price objective on Torrid from $18.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their target price on Torrid from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $19.83.

Shares of CURV stock opened at $9.51 on Friday. Torrid Holdings Inc. has a 1-year low of $8.06 and a 1-year high of $33.19. The company’s fifty day simple moving average is $13.65.

Torrid (NYSE:CURV) last posted its quarterly earnings results on Tuesday, December 7th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). The company had revenue of $306.24 million for the quarter, compared to analyst estimates of $311.36 million. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, analysts expect that Torrid Holdings Inc. will post 1.06 EPS for the current fiscal year.

About Torrid

Torrid Holdings Inc focuses on operating as a holding company for Torrid Parent Inc that 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, 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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