9,620 Shares in Citi Trends, Inc. $CTRN Acquired 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,620 shares of the company’s stock, valued at approximately $556,000. Quantbot Technologies LP owned about 0.12% of Citi Trends as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

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

Citi Trends Stock Down 0.6%

CTRN opened at $68.67 on Friday. The firm’s 50 day moving average is $65.42 and its 200-day moving average is $52.95. Citi Trends, Inc. has a 52-week low of $29.60 and a 52-week high of $77.91. The firm has a market capitalization of $572.02 million, a P/E ratio of 83.74 and a beta of 1.82.

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

Citi Trends Company 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.