UBS Group AG Sells 31,609 Shares of Citi Trends, Inc. $CTRN

UBS Group AG trimmed its holdings in Citi Trends, Inc. (NASDAQ:CTRN) by 25.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,022 shares of the company’s stock after selling 31,609 shares during the quarter. UBS Group AG’s holdings in Citi Trends were worth $3,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CTRN. Marshall Wace LLP increased its stake 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 acquiring an additional 116,722 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Citi Trends in the 3rd quarter worth about $2,778,000. Assenagon Asset Management S.A. purchased a new stake in Citi Trends during the 4th quarter valued at about $3,616,000. Invesco Ltd. grew its position in Citi Trends by 243.3% during the 2nd quarter. Invesco Ltd. now owns 103,965 shares of the company’s stock valued at $3,471,000 after purchasing an additional 73,678 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Citi Trends by 124.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 98,909 shares of the company’s stock valued at $3,069,000 after purchasing an additional 54,761 shares during the last quarter.

Citi Trends Stock Up 11.5%

Shares of NASDAQ CTRN opened at $42.61 on Friday. The firm’s 50-day moving average price is $45.27 and its 200-day moving average price is $44.42. The company has a market cap of $355.37 million, a PE ratio of 72.22 and a beta of 1.93. Citi Trends, Inc. has a 52-week low of $25.00 and a 52-week high of $56.78.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, March 17th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The firm had revenue of $230.39 million for the quarter, compared to the consensus estimate of $227.42 million. Citi Trends had a net margin of 0.64% and a negative return on equity of 4.78%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Craig Hallum reissued a “buy” rating on shares of Citi Trends in a research report on Wednesday, March 18th. Weiss Ratings raised shares of Citi Trends from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Finally, DA Davidson set a $68.00 price objective on shares of Citi Trends in a research report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Citi Trends currently has an average rating of “Moderate Buy” and an average price target of $68.00.

Insider Activity

In other news, Director Margaret L. Jenkins sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $45.91, for a total transaction of $91,820.00. Following the sale, the director owned 14,163 shares of the company’s stock, valued at $650,223.33. This trade represents a 12.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.60% of the stock is currently owned by insiders.

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.