EVR Research LP Makes New $1.25 Million Investment in Citi Trends, Inc. $CTRN

EVR Research LP bought a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $1,247,000.

Several other hedge funds have also recently bought and sold shares of CTRN. BNP Paribas Financial Markets increased its position in Citi Trends by 143.3% during the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after buying an additional 619 shares during the last quarter. New York State Common Retirement Fund increased its position in Citi Trends by 175.0% during the fourth quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock worth $46,000 after buying an additional 700 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Citi Trends during the fourth quarter worth $51,000. Meeder Asset Management Inc. increased its position in Citi Trends by 277.1% during the fourth quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock worth $68,000 after buying an additional 1,211 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Citi Trends by 7,843.8% during the third quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company’s stock worth $197,000 after buying an additional 6,275 shares during the last quarter.

Citi Trends Price Performance

CTRN stock opened at $56.84 on Thursday. Citi Trends, Inc. has a 52-week low of $28.25 and a 52-week high of $58.26. The company has a 50-day moving average of $46.18 and a two-hundred day moving average of $45.35. The stock has a market capitalization of $473.48 million, a price-to-earnings ratio of 40.89 and a beta of 1.88.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.59. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. The company had revenue of $230.86 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same period in the prior year, the company earned $0.11 earnings per share.

Insider Transactions at Citi Trends

In related news, Director Margaret L. Jenkins sold 2,000 shares of the stock in a transaction dated 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 sale, the director owned 14,163 shares in the company, valued at approximately $650,223.33. This trade represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.60% of the stock is owned by company insiders.

Analyst Ratings Changes

CTRN has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Weiss Ratings upgraded shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. 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. Finally, Craig Hallum restated a “buy” rating on shares of Citi Trends in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.00.

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.