Citi Trends, Inc. $CTRN Shares Purchased by Hodges Capital Management Inc.

Hodges Capital Management Inc. increased its holdings in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 113.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 111,000 shares of the company’s stock after buying an additional 59,000 shares during the period. Hodges Capital Management Inc.’s holdings in Citi Trends were worth $4,613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in shares of Citi Trends by 143.3% in the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock valued at $33,000 after purchasing an additional 619 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Citi Trends by 7,843.8% in the third quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company’s stock valued at $197,000 after purchasing an additional 6,275 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Citi Trends in the first quarter valued at approximately $204,000. Bank of America Corp DE increased its stake in shares of Citi Trends by 5.8% in the second quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock valued at $208,000 after purchasing an additional 342 shares during the period. Finally, State of Wyoming increased its stake in shares of Citi Trends by 7.0% in the second quarter. State of Wyoming now owns 7,160 shares of the company’s stock valued at $239,000 after purchasing an additional 469 shares during the period.

Citi Trends Price Performance

Citi Trends stock opened at $45.66 on Thursday. The firm has a 50 day simple moving average of $45.25 and a 200-day simple moving average of $45.03. The stock has a market capitalization of $381.72 million, a PE ratio of 32.85 and a beta of 1.88. Citi Trends, Inc. has a 12-month low of $28.25 and a 12-month high of $56.78.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.59. The business had revenue of $230.86 million during the quarter, compared to analysts’ expectations of $217.42 million. Citi Trends had a net margin of 1.42% and a return on equity of 2.15%. During the same period last year, the firm posted $0.11 earnings per share.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Craig Hallum restated a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. Finally, DA Davidson restated a “buy” rating and issued a $68.00 price target on shares of Citi Trends in a research note on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Activity

In other news, Director Margaret L. Jenkins sold 2,000 shares of the stock in a transaction that occurred 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 $650,223.33. This trade represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.60% of the stock is owned by company insiders.

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.