Royce & Associates LP reduced its stake in Citi Trends, Inc. (NASDAQ:CTRN - Free Report) by 6.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 184,178 shares of the company's stock after selling 11,932 shares during the quarter. Royce & Associates LP owned about 2.11% of Citi Trends worth $4,835,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its position in shares of Citi Trends by 7.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 100,523 shares of the company's stock valued at $2,639,000 after purchasing an additional 6,702 shares during the last quarter. Rhumbline Advisers raised its position in shares of Citi Trends by 157.3% in the 4th quarter. Rhumbline Advisers now owns 31,089 shares of the company's stock valued at $816,000 after purchasing an additional 19,005 shares during the last quarter. Barclays PLC raised its position in shares of Citi Trends by 19.9% in the 3rd 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. Empowered Funds LLC raised its position in shares of Citi Trends by 5.0% in the 4th quarter. Empowered Funds LLC now owns 25,278 shares of the company's stock valued at $664,000 after purchasing an additional 1,195 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Citi Trends in the 3rd quarter valued at approximately $339,000.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on CTRN. StockNews.com lowered shares of Citi Trends from a "hold" rating to a "sell" rating in a research report on Thursday. DA Davidson reiterated a "buy" rating and issued a $29.00 price target on shares of Citi Trends in a report on Wednesday. Finally, Craig Hallum upgraded shares of Citi Trends from a "hold" rating to a "buy" rating and set a $36.00 price target on the stock in a report on Monday, February 10th.
Check Out Our Latest Research Report on Citi Trends
Insider Transactions at Citi Trends
In other news, Director Jonathan Duskin sold 12,000 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $26.44, for a total transaction of $317,280.00. Following the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.80% of the company's stock.
Citi Trends Price Performance
NASDAQ:CTRN traded up $0.94 during midday trading on Friday, hitting $21.05. The company's stock had a trading volume of 291,411 shares, compared to its average volume of 123,109. Citi Trends, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $29.41. The firm's 50 day moving average is $24.96 and its 200-day moving average is $22.15. The firm has a market cap of $183.35 million, a P/E ratio of -6.86 and a beta of 2.29.
Citi Trends (NASDAQ:CTRN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($1.55) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($1.73). The business had revenue of $211.17 million during the quarter, compared to analyst estimates of $211.54 million. Citi Trends had a negative return on equity of 14.43% and a negative net margin of 3.36%. During the same quarter last year, the company posted $0.53 EPS.
About Citi Trends
(
Free Report)
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.
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