Northern Trust Corp Has $7.42 Million Stake in Citi Trends, Inc. (CTRN)
Northern Trust Corp increased its holdings in Citi Trends, Inc. (NASDAQ:CTRN) by 41.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,449 shares of the company’s stock after buying an additional 79,112 shares during the period. Northern Trust Corp owned 2.08% of Citi Trends worth $7,421,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. acquired a new position in Citi Trends during the second quarter valued at approximately $421,000. Acadian Asset Management LLC raised its position in Citi Trends by 14.8% during the second quarter. Acadian Asset Management LLC now owns 95,122 shares of the company’s stock valued at $2,610,000 after purchasing an additional 12,228 shares in the last quarter. Alambic Investment Management L.P. raised its position in Citi Trends by 7.7% during the second quarter. Alambic Investment Management L.P. now owns 59,010 shares of the company’s stock valued at $1,619,000 after purchasing an additional 4,239 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Citi Trends by 38.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 176,019 shares of the company’s stock valued at $4,830,000 after purchasing an additional 48,949 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Citi Trends by 7.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 72,941 shares of the company’s stock valued at $2,002,000 after purchasing an additional 5,090 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.
CTRN has been the subject of several research analyst reports. BidaskClub upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. ValuEngine downgraded shares of Citi Trends from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th.
NASDAQ CTRN opened at $25.37 on Friday. The firm has a market cap of $334.24 million, a price-to-earnings ratio of 15.90 and a beta of 0.72. Citi Trends, Inc. has a fifty-two week low of $20.78 and a fifty-two week high of $34.90.
Citi Trends (NASDAQ:CTRN) last posted its earnings results on Thursday, August 23rd. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.17. The firm had revenue of $182.00 million for the quarter, compared to analysts’ expectations of $178.50 million. Citi Trends had a net margin of 2.61% and a return on equity of 10.59%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. On average, sell-side analysts expect that Citi Trends, Inc. will post 1.7 EPS for the current year.
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Citi Trends Company Profile
Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.
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