Assenagon Asset Management S.A. Trims Stock Position in Citi Trends, Inc. (NASDAQ:CTRN)

Assenagon Asset Management S.A. decreased its holdings in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 79.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,544 shares of the company's stock after selling 67,294 shares during the quarter. Assenagon Asset Management S.A. owned 0.20% of Citi Trends worth $461,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Citi Trends by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company's stock valued at $12,938,000 after purchasing an additional 37,107 shares in the last quarter. Royce & Associates LP lifted its stake in Citi Trends by 5.4% during the 3rd quarter. Royce & Associates LP now owns 196,110 shares of the company's stock valued at $3,603,000 after acquiring an additional 10,000 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Citi Trends during the 3rd quarter worth $1,723,000. Renaissance Technologies LLC bought a new stake in shares of Citi Trends in the 2nd quarter worth $584,000. Finally, Barclays PLC raised its holdings in shares of Citi Trends by 19.9% in the third quarter. Barclays PLC now owns 25,953 shares of the company's stock valued at $478,000 after purchasing an additional 4,300 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTRN. StockNews.com cut shares of Citi Trends from a "hold" rating to a "sell" rating in a report on Friday, December 6th. Craig Hallum boosted their target price on Citi Trends from $14.00 to $20.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Finally, DA Davidson increased their price target on Citi Trends from $20.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th.

Citi Trends Stock Performance

CTRN stock traded up $0.05 during mid-day trading on Friday, hitting $26.91. The company had a trading volume of 66,851 shares, compared to its average volume of 57,613. Citi Trends, Inc. has a 12 month low of $13.65 and a 12 month high of $32.90. The stock's fifty day moving average price is $24.37 and its two-hundred day moving average price is $20.10.

Citi Trends (NASDAQ:CTRN - Get Free Report) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.78) EPS for the quarter. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%.

Insider Activity

In other Citi Trends news, Director Jonathan Duskin sold 12,000 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $26.44, for a total transaction of $317,280.00. Following the completion of the transaction, the director now owns 33,396 shares in the company, valued at $882,990.24. This trade represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.80% of the company's stock.

About Citi Trends

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.