Russell Investments Group Ltd. lowered its stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 71.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,575 shares of the company’s stock after selling 63,893 shares during the period. Russell Investments Group Ltd. owned 0.17% of Citi Trends worth $435,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of CTRN. Strs Ohio boosted its position in shares of Citi Trends by 3.1% in the first quarter. Strs Ohio now owns 36,600 shares of the company’s stock valued at $622,000 after buying an additional 1,100 shares during the period. Nationwide Fund Advisors raised its position in Citi Trends by 60.6% in the first quarter. Nationwide Fund Advisors now owns 54,905 shares of the company’s stock valued at $933,000 after buying an additional 20,708 shares in the last quarter. Highbridge Capital Management LLC bought a new position in Citi Trends during the fourth quarter valued at about $219,000. Teachers Advisors LLC raised its stake in shares of Citi Trends by 85.9% in the fourth quarter. Teachers Advisors LLC now owns 58,093 shares of the company’s stock worth $1,094,000 after buying an additional 26,841 shares during the period. Finally, Two Sigma Investments LP raised its stake in shares of Citi Trends by 19.0% in the fourth quarter. Two Sigma Investments LP now owns 34,274 shares of the company’s stock worth $646,000 after buying an additional 5,477 shares during the period. 90.44% of the stock is owned by institutional investors.
Shares of Citi Trends, Inc. (NASDAQ CTRN) opened at 21.36 on Tuesday. Citi Trends, Inc. has a 1-year low of $15.44 and a 1-year high of $22.73. The firm has a 50-day moving average price of $19.41 and a 200 day moving average price of $18.20. The company has a market cap of $314.40 million, a PE ratio of 23.37 and a beta of 0.32.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings results on Wednesday, May 17th. The company reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. Citi Trends had a return on equity of 6.56% and a net margin of 1.92%. The firm had revenue of $200 million for the quarter, compared to analysts’ expectations of $197.10 million. During the same period in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Citi Trends, Inc. will post $1.30 earnings per share for the current year.
Citi Trends declared that its board has initiated a stock repurchase plan on Monday, April 10th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of analysts have recently weighed in on CTRN shares. ValuEngine upgraded Citi Trends from a “hold” rating to a “buy” rating in a research note on Friday, May 19th. TheStreet upgraded Citi Trends from a “c+” rating to a “b-” rating in a research report on Tuesday, May 9th. Finally, BidaskClub cut Citi Trends from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $19.00.
About Citi Trends
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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