9,620 Shares in Citi Trends, Inc. $CTRN Bought by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,620 shares of the company’s stock, valued at approximately $556,000.

A number of other large investors have also modified their holdings of CTRN. Dynamic Technology Lab Private Ltd bought a new stake in Citi Trends in the 1st quarter valued at about $204,000. Arrowstreet Capital Limited Partnership grew its position in Citi Trends by 17.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 64,248 shares of the company’s stock worth $2,145,000 after purchasing an additional 9,380 shares during the last quarter. Invesco Ltd. increased its stake in shares of Citi Trends by 243.3% in the second quarter. Invesco Ltd. now owns 103,965 shares of the company’s stock valued at $3,471,000 after purchasing an additional 73,678 shares during the period. Marshall Wace LLP increased its stake in shares of Citi Trends by 269.2% in the second quarter. Marshall Wace LLP now owns 160,084 shares of the company’s stock valued at $5,345,000 after purchasing an additional 116,722 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Citi Trends during the second quarter valued at approximately $594,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a research report on Monday, June 29th. DA Davidson set a $81.00 target price on Citi Trends in a research note on Wednesday. Finally, Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.00.

Citi Trends Price Performance

Citi Trends stock opened at $68.67 on Friday. Citi Trends, Inc. has a 12-month low of $29.60 and a 12-month high of $77.91. The stock has a market capitalization of $572.02 million, a PE ratio of 83.74 and a beta of 1.82. The firm has a 50 day simple moving average of $65.42 and a 200-day simple moving average of $52.95.

Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, August 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.32) by $0.37. The firm had revenue of $211.63 million for the quarter, compared to analysts’ expectations of $211.60 million. Citi Trends had a return on equity of 8.25% and a net margin of 0.84%.

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.