Sierra Summit Advisors LLC acquired a new stake in Citi Trends, Inc. (NASDAQ:CTRN – Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,912 shares of the company’s stock, valued at approximately $994,000.
Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in Citi Trends in the fourth quarter valued at approximately $3,616,000. Tectonic Advisors LLC raised its position in Citi Trends by 203.3% in the fourth quarter. Tectonic Advisors LLC now owns 45,396 shares of the company’s stock valued at $1,887,000 after purchasing an additional 30,428 shares during the period. Principal Financial Group Inc. purchased a new stake in Citi Trends in the third quarter valued at approximately $812,000. GSA Capital Partners LLP purchased a new stake in Citi Trends in the third quarter valued at approximately $551,000. Finally, Hodges Capital Management Inc. raised its position in Citi Trends by 593.3% in the third quarter. Hodges Capital Management Inc. now owns 52,000 shares of the company’s stock valued at $1,614,000 after purchasing an additional 44,500 shares during the period.
Wall Street Analysts Forecast Growth
CTRN has been the topic of a number of research analyst reports. Craig Hallum reissued a “buy” rating on shares of Citi Trends in a research report on Wednesday, March 18th. Weiss Ratings raised Citi Trends from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, DA Davidson set a $68.00 target price on Citi Trends in a research report on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Citi Trends currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.
Insider Activity
In other Citi Trends news, Director Margaret L. Jenkins sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $45.91, for a total transaction of $91,820.00. Following the transaction, the director owned 14,163 shares of the company’s stock, valued at approximately $650,223.33. This trade represents a 12.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.60% of the company’s stock.
Citi Trends Trading Down 3.4%
Shares of CTRN stock opened at $36.28 on Thursday. The firm has a fifty day moving average price of $45.61 and a 200 day moving average price of $44.42. The company has a market cap of $302.58 million, a P/E ratio of 61.49 and a beta of 1.93. Citi Trends, Inc. has a 12 month low of $25.00 and a 12 month high of $56.78.
Citi Trends (NASDAQ:CTRN – Get Free Report) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.07. The company had revenue of $230.39 million for the quarter, compared to analyst estimates of $227.42 million. Citi Trends had a negative return on equity of 4.78% and a net margin of 0.64%.
Citi Trends Profile
Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.
The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.
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