State of Wyoming Acquires New Shares in Citi Trends, Inc. $CTRN

State of Wyoming acquired a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,155 shares of the company’s stock, valued at approximately $397,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTRN. BNP Paribas Financial Markets grew its stake in Citi Trends by 143.3% in the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock valued at $33,000 after acquiring an additional 619 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Citi Trends by 175.0% during the 4th quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock valued at $46,000 after purchasing an additional 700 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Citi Trends during the 4th quarter valued at about $51,000. Meeder Asset Management Inc. lifted its holdings in shares of Citi Trends by 277.1% during the 4th quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock valued at $68,000 after purchasing an additional 1,211 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Citi Trends by 7,843.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,355 shares of the company’s stock valued at $197,000 after purchasing an additional 6,275 shares during the period.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a report on Monday, June 29th. Weiss Ratings raised shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Finally, DA Davidson upped their price target on shares of Citi Trends from $68.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Citi Trends currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Citi Trends Price Performance

CTRN opened at $62.92 on Monday. The business’s 50-day moving average price is $53.51 and its two-hundred day moving average price is $48.58. Citi Trends, Inc. has a 1 year low of $28.44 and a 1 year high of $67.36. The company has a market capitalization of $524.12 million, a price-to-earnings ratio of 45.27 and a beta of 1.83.

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

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.