Royce & Associates LP Decreases Stock Holdings in Citi Trends, Inc. $CTRN

Royce & Associates LP reduced its holdings in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,328 shares of the company’s stock after selling 19,383 shares during the quarter. Royce & Associates LP owned 2.99% of Citi Trends worth $10,362,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CTRN. BNP Paribas Financial Markets grew its stake in Citi Trends by 143.3% during the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after buying an additional 619 shares during the period. Russell Investments Group Ltd. grew its stake in Citi Trends by 7,843.8% during the third quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company’s stock worth $197,000 after buying an additional 6,275 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Citi Trends during the first quarter worth approximately $204,000. Bank of America Corp DE grew its stake in Citi Trends by 5.8% during the second quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock worth $208,000 after buying an additional 342 shares during the period. Finally, Strs Ohio grew its stake in Citi Trends by 1,650.0% during the third quarter. Strs Ohio now owns 7,000 shares of the company’s stock worth $217,000 after buying an additional 6,600 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Craig Hallum reiterated a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. Weiss Ratings upgraded shares of Citi Trends from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Finally, DA Davidson set a $68.00 price objective on shares of Citi Trends in a research note on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Citi Trends Trading Up 6.7%

Shares of CTRN stock opened at $46.60 on Thursday. The company has a market capitalization of $389.58 million, a PE ratio of 78.98 and a beta of 1.93. The firm has a fifty day simple moving average of $45.23 and a 200-day simple moving average of $44.62. Citi Trends, Inc. has a twelve month low of $25.52 and a twelve month high of $56.78.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, March 17th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. The business had revenue of $230.39 million during the quarter, compared to the consensus estimate of $227.42 million. Citi Trends had a net margin of 0.64% and a negative return on equity of 4.78%.

Insider Buying and Selling at Citi Trends

In other news, Director Margaret L. Jenkins sold 2,000 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $45.91, for a total value of $91,820.00. Following the completion of the transaction, the director directly owned 14,163 shares in the company, valued at approximately $650,223.33. This represents a 12.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.60% of the company’s stock.

Citi Trends Profile

Citi Trends, Inc (NASDAQ: CTRN) is an off-price retail apparel chain that focuses on value-priced urban fashion apparel and accessories for men, women, and children. Headquartered in Savannah, Georgia, the company offers a broad assortment of merchandise, including denim, sportswear, activewear, and seasonal styles, complemented by footwear, jewelry, cosmetics, and home goods. Through its purchasing model, Citi Trends sources closeouts, overstocks and canceled orders from name-brand vendors, enabling it to offer trending styles at competitive price points.

The company operates more than 500 stores across the Southeastern and Mid-Atlantic regions of the United States, with typical store footprints of approximately 11,000 square feet.