Los Angeles Capital Management LLC Cuts Stock Position in Citi Trends, Inc. $CTRN

Los Angeles Capital Management LLC lessened its position in Citi Trends, Inc. (NASDAQ:CTRN) by 25.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,969 shares of the company’s stock after selling 12,475 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Citi Trends were worth $1,495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CTRN. Marshall Wace LLP raised its holdings in shares of Citi Trends by 269.2% in the 2nd quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock valued at $5,345,000 after buying an additional 116,722 shares during the period. UBS Group AG raised its holdings in shares of Citi Trends by 478.3% in the 3rd quarter. UBS Group AG now owns 122,631 shares of the company’s stock valued at $3,805,000 after buying an additional 101,426 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Citi Trends in the 3rd quarter valued at $2,778,000. Assenagon Asset Management S.A. purchased a new stake in shares of Citi Trends in the 4th quarter valued at $3,616,000. Finally, Invesco Ltd. raised its holdings in shares of Citi Trends by 243.3% in the 2nd quarter. Invesco Ltd. now owns 103,965 shares of the company’s stock valued at $3,471,000 after buying an additional 73,678 shares during the period.

Analyst Ratings Changes

CTRN has been the topic of several recent research reports. DA Davidson restated a “buy” rating and set a $68.00 price target on shares of Citi Trends in a report on Wednesday, June 3rd. Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Finally, Craig Hallum reiterated a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Citi Trends has an average 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 company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $45.91, for a total transaction of $91,820.00. Following the completion of the transaction, the director directly owned 14,163 shares of the company’s stock, valued at approximately $650,223.33. This represents a 12.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 9.60% of the company’s stock.

Citi Trends Stock Performance

Shares of CTRN opened at $45.66 on Thursday. The stock 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 1 year low of $28.25 and a 1 year high of $56.78.

Citi Trends (NASDAQ:CTRN) last announced 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 return on equity of 2.15% and a net margin of 1.42%.During the same quarter last year, the business posted $0.11 EPS.

About Citi Trends

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.