Exchange Traded Concepts LLC Purchases Shares of 93,821 Citi Trends, Inc. (NASDAQ:CTRN)

Exchange Traded Concepts LLC bought a new stake in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 93,821 shares of the company's stock, valued at approximately $1,723,000. Exchange Traded Concepts LLC owned 1.09% of Citi Trends at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC increased its stake in Citi Trends by 8.0% in the 1st quarter. Empowered Funds LLC now owns 21,257 shares of the company's stock valued at $577,000 after purchasing an additional 1,575 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Citi Trends in the 1st quarter valued at $139,000. Rhumbline Advisers increased its position in Citi Trends by 41,964.0% during the 2nd quarter. Rhumbline Advisers now owns 10,516 shares of the company's stock worth $224,000 after purchasing an additional 10,491 shares in the last quarter. Anchor Capital Advisors LLC grew its stake in shares of Citi Trends by 11.3% in the second quarter. Anchor Capital Advisors LLC now owns 52,247 shares of the company's stock valued at $1,111,000 after buying an additional 5,307 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Citi Trends by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 608,553 shares of the company's stock worth $12,938,000 after buying an additional 37,107 shares during the period.

Citi Trends Price Performance

Shares of NASDAQ CTRN traded up $0.47 during midday trading on Wednesday, hitting $20.12. The stock had a trading volume of 98,628 shares, compared to its average volume of 128,532. Citi Trends, Inc. has a fifty-two week low of $13.65 and a fifty-two week high of $32.90. The firm has a market cap of $172.93 million, a P/E ratio of -18.19 and a beta of 2.40. The company's 50-day simple moving average is $16.72 and its 200 day simple moving average is $20.01.

Citi Trends (NASDAQ:CTRN - Get Free Report) last released its quarterly earnings results on Tuesday, August 27th. The company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($1.42). The firm had revenue of $176.55 million during the quarter. Citi Trends had a negative net margin of 2.92% and a negative return on equity of 12.62%.

Analyst Ratings Changes

A number of brokerages have issued reports on CTRN. StockNews.com downgraded Citi Trends from a "hold" rating to a "sell" rating in a research note on Thursday, August 29th. Craig Hallum decreased their price objective on shares of Citi Trends from $25.00 to $14.00 and set a "hold" rating for the company in a research note on Wednesday, August 28th. Finally, DA Davidson dropped their price target on shares of Citi Trends from $33.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, August 28th.

Insider Transactions at Citi Trends

In related news, CFO Heather L. Plutino purchased 3,573 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $13.99 per share, with a total value of $49,986.27. Following the acquisition, the chief financial officer now owns 21,316 shares of the company's stock, valued at $298,210.84. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Heather L. Plutino acquired 3,573 shares of Citi Trends stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $13.99 per share, with a total value of $49,986.27. Following the purchase, the chief financial officer now owns 21,316 shares in the company, valued at $298,210.84. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kenneth Duane Seipel acquired 25,000 shares of Citi Trends stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $14.39 per share, with a total value of $359,750.00. Following the transaction, the chief executive officer now owns 282,139 shares in the company, valued at approximately $4,059,980.21. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 31,573 shares of company stock valued at $455,336. 3.80% of the stock is owned by corporate insiders.

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.