GSA Capital Partners LLP Takes $551,000 Position in Citi Trends, Inc. $CTRN

GSA Capital Partners LLP bought a new position in shares of Citi Trends, Inc. (NASDAQ:CTRN) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 17,765 shares of the company’s stock, valued at approximately $551,000.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Citi Trends by 10.2% during the third quarter. Vanguard Group Inc. now owns 373,685 shares of the company’s stock worth $11,595,000 after acquiring an additional 34,450 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Citi Trends by 343.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,573 shares of the company’s stock worth $421,000 after purchasing an additional 10,509 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Citi Trends during the 3rd quarter worth about $812,000. Strs Ohio lifted its holdings in Citi Trends by 1,650.0% during the 3rd quarter. Strs Ohio now owns 7,000 shares of the company’s stock valued at $217,000 after purchasing an additional 6,600 shares during the last quarter. Finally, Bailard Inc. acquired a new position in Citi Trends in the third quarter valued at about $279,000.

Citi Trends Trading Down 3.9%

Shares of CTRN stock opened at $43.64 on Tuesday. Citi Trends, Inc. has a 1 year low of $16.82 and a 1 year high of $49.50. The firm’s 50 day moving average is $44.26 and its 200-day moving average is $39.44. The firm has a market capitalization of $364.39 million, a price-to-earnings ratio of -21.82 and a beta of 2.12.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). Citi Trends had a negative return on equity of 22.84% and a negative net margin of 2.05%.The company had revenue of $197.09 million during the quarter, compared to the consensus estimate of $187.33 million.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. DA Davidson set a $55.00 price objective on shares of Citi Trends in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Citi Trends in a research report on Wednesday, January 21st. Finally, Wall Street Zen downgraded Citi Trends from a “buy” rating to a “hold” rating in a research report on Monday, December 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.00.

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.