Geode Capital Management LLC Has $3 Million Stake in Citi Trends, Inc. (NASDAQ:CTRN)

Geode Capital Management LLC lowered its holdings in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 15.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 163,472 shares of the company's stock after selling 29,680 shares during the quarter. Geode Capital Management LLC owned 1.90% of Citi Trends worth $3,003,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in shares of Citi Trends in the third quarter valued at about $40,000. Quantbot Technologies LP lifted its position in shares of Citi Trends by 111.3% in the 3rd quarter. Quantbot Technologies LP now owns 8,070 shares of the company's stock worth $148,000 after acquiring an additional 4,250 shares during the period. Jane Street Group LLC acquired a new stake in shares of Citi Trends during the 3rd quarter worth approximately $193,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Citi Trends during the second quarter valued at approximately $208,000. Finally, Rhumbline Advisers raised its stake in shares of Citi Trends by 41,964.0% in the second quarter. Rhumbline Advisers now owns 10,516 shares of the company's stock valued at $224,000 after purchasing an additional 10,491 shares in the last quarter.

Citi Trends Stock Performance

Shares of NASDAQ:CTRN traded down $0.53 on Tuesday, hitting $26.02. The stock had a trading volume of 67,465 shares, compared to its average volume of 83,366. The firm's 50 day moving average price is $22.36 and its 200-day moving average price is $19.51. Citi Trends, Inc. has a twelve month low of $13.65 and a twelve month high of $32.90. The company has a market capitalization of $226.63 million, a price-to-earnings ratio of -8.48 and a beta of 2.27.

Analyst Upgrades and Downgrades

CTRN has been the topic of several analyst reports. DA Davidson boosted their price target on shares of Citi Trends from $20.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. StockNews.com cut shares of Citi Trends from a "hold" rating to a "sell" rating in a research note on Friday, December 6th. Finally, Craig Hallum raised their price target on shares of Citi Trends from $14.00 to $20.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th.

Insider Activity

In related news, Director Jonathan Duskin sold 12,000 shares of the firm's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $26.44, for a total transaction of $317,280.00. Following the completion of the sale, the director now directly owns 33,396 shares of the company's stock, valued at $882,990.24. This trade represents a 26.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

Citi Trends Company Profile

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.