Rhumbline Advisers Lowers Position in Citi Trends, Inc. (CTRN)
Rhumbline Advisers trimmed its position in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,772 shares of the company’s stock after selling 175 shares during the period. Rhumbline Advisers owned approximately 0.13% of Citi Trends worth $398,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of CTRN. Acadian Asset Management LLC increased its stake in Citi Trends by 547.6% during the second quarter. Acadian Asset Management LLC now owns 6,172 shares of the company’s stock valued at $131,000 after acquiring an additional 5,219 shares during the period. American International Group Inc. increased its stake in Citi Trends by 7.0% during the first quarter. American International Group Inc. now owns 8,858 shares of the company’s stock valued at $151,000 after acquiring an additional 582 shares during the period. Oxford Asset Management bought a new position in Citi Trends during the first quarter valued at about $257,000. Credit Suisse AG increased its stake in Citi Trends by 54.3% during the first quarter. Credit Suisse AG now owns 16,490 shares of the company’s stock valued at $280,000 after acquiring an additional 5,803 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Citi Trends by 61.6% during the first quarter. Wells Fargo & Company MN now owns 23,211 shares of the company’s stock valued at $394,000 after acquiring an additional 8,848 shares during the period. Hedge funds and other institutional investors own 90.76% of the company’s stock.
Several brokerages recently issued reports on CTRN. TheStreet lowered Citi Trends from a “b” rating to a “c+” rating in a research note on Wednesday, September 6th. BidaskClub lowered Citi Trends from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th.
Citi Trends, Inc. (NASDAQ:CTRN) opened at 20.53 on Friday. The company’s 50-day moving average price is $18.79 and its 200 day moving average price is $19.25. Citi Trends, Inc. has a 52 week low of $15.54 and a 52 week high of $22.73. The company has a market capitalization of $295.24 million, a price-to-earnings ratio of 22.56 and a beta of 0.42.
Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Wednesday, August 16th. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.05). The company had revenue of $166.20 million during the quarter, compared to the consensus estimate of $164.70 million. Citi Trends had a net margin of 1.88% and a return on equity of 6.93%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) earnings per share. On average, analysts predict that Citi Trends, Inc. will post $1.22 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 29th were issued a $0.08 dividend. The ex-dividend date was Friday, August 25th. This represents a $0.32 annualized dividend and a yield of 1.56%. Citi Trends’s dividend payout ratio is currently 35.16%.
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Citi Trends Company Profile
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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