Foundry Partners LLC reduced its position in Citi Trends, Inc. (NASDAQ:CTRN – Get Rating) by 46.3% in the first quarter, Holdings Channel reports. The fund owned 36,335 shares of the company after selling 31,360 shares during the period. Foundry Partners LLC’s interests in Citi Trends were valued at $1,113,000 at the time of the last SEC filing.
Other major investors have also recently changed their stakes in the company. Credit Suisse AG increased its stake in Citi Trends by 15.3% in the third quarter. Credit Suisse AG now owns 7,348 shares of the company, valued at $537,000, after buying an additional 977 shares last quarter. Point72 Hong Kong Ltd acquired a new position in Citi Trends stock valued at approximately $25,000 during the third quarter. Wellington Management Group LLP increased its stake in Citi Trends shares by 6,339.6% during the third quarter. Wellington Management Group LLP now owns 159,508 shares of the company’s stock valued at $11,637,000 after purchasing an additional 157,031 shares last quarter. Squarepoint Ops LLC increased its stake in Citi Trends by 98.1% during the third quarter. Squarepoint Ops LLC now owns 17,715 shares of the company’s stock valued at $1,292,000 after purchasing an additional 8,771 shares last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Citi Trends shares by 125.4% in the third quarter. BNP Paribas Arbitrage SA now owns 22,360 shares of the company, valued at $1,631,000, after purchasing an additional 12,439 shares last quarter.
CTRN shares opened at $25.12 on Friday. The company’s 50-day moving average price is $28.03 and its 200-day moving average price is $42.75. Citi Trends, Inc. has a 12-month low of $21.70 and a 12-month high of $97.46. The stock has a market cap of $211.01 million, a P/E of 3.52 and a beta of 2.01.
Citi Trends (NASDAQ:CTRN – Get Rating) last announced its quarterly earnings data on Tuesday, May 24th. The company reported earnings per share (EPS) of $0.42 for the quarter, beating the consensus estimate of $0.34 by $0.08. Citi Trends had a return on equity of 27.43% and a net margin of 6.73%. In the same quarter last year, the company earned $3.23 per share. Sell-side analysts are predicting that Citi Trends, Inc. will post 2.52 year-to-date EPS.
Several equity analysts recently commented on the company. Telsey Advisory Group lowered its price target on Citi Trends to $45.00 in a research note on Wednesday, May 25. StockNews.com assumed coverage of Citi Trends in a research note on Thursday, March 31st. You give the company a “hold” rating. Craig Hallum lowered Citi Trends from a “buy” rating to a “hold” rating in a research note on Friday, May 20, lowering the company’s price target to $34.00 from $80.00. Finally, in a research note on Wednesday, May 25, Benchmark reduced its price target on Citi Trends to $50.00. Two analysts have rated the stock with a hold rating and three with a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.25.
In other news from Citi Trends, SVP Jessica Berkowitz sold 1,815 shares of the company’s stock in a transaction on Tuesday, April 12. The stock sold at an average price of $31.95 for a total value of $57,989.25. Following the sale, the senior vice president now directly owns 5,446 shares of the company, valued at $173,999.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.20% of the company’s shares.
About Citi Trends (received rating)
Citi Trends, Inc is a value retailer of fashion apparel, accessories and homewares. It offers apparel such as fashionable sportswear and shoes for men and women, and apparel for children including newborns, infants, toddlers, boys and girls; women’s sleepwear, lingerie and scrubs; and children’s uniforms and accessories.
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