Hodges Capital Management Inc. Increases Holdings in Citi Trends, Inc. $CTRN

Hodges Capital Management Inc. increased its holdings in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 113.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,000 shares of the company’s stock after purchasing an additional 59,000 shares during the period. Hodges Capital Management Inc. owned 1.33% of Citi Trends worth $4,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new stake in Citi Trends during the 4th quarter worth $3,616,000. Tectonic Advisors LLC boosted its position in Citi Trends by 203.3% during the 4th quarter. Tectonic Advisors LLC now owns 45,396 shares of the company’s stock worth $1,887,000 after purchasing an additional 30,428 shares during the period. Principal Financial Group Inc. purchased a new stake in Citi Trends during the 3rd quarter worth $812,000. GSA Capital Partners LLP purchased a new stake in Citi Trends during the 3rd quarter worth $551,000. Finally, Sierra Summit Advisors LLC purchased a new stake in Citi Trends during the 4th quarter worth $994,000.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTRN. Weiss Ratings upgraded shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Craig Hallum reiterated a “buy” rating on shares of Citi Trends in a report on Wednesday, March 18th. Finally, DA Davidson reiterated a “buy” rating and issued a $68.00 price objective on shares of Citi Trends in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Citi Trends presently has an average rating of “Moderate Buy” and an average target price of $68.00.

Insiders Place Their Bets

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 transaction of $91,820.00. Following the sale, the director owned 14,163 shares in the company, valued at $650,223.33. This represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by company insiders.

Citi Trends Stock Performance

Shares of Citi Trends stock opened at $45.66 on Thursday. The firm has a market cap of $381.72 million, a PE ratio of 32.85 and a beta of 1.88. Citi Trends, Inc. has a 1 year low of $28.25 and a 1 year high of $56.78. The firm’s 50-day simple moving average is $45.25 and its 200-day simple moving average is $45.03.

Citi Trends (NASDAQ:CTRN) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.59. The firm had revenue of $230.86 million for the quarter, compared to analyst estimates of $217.42 million. Citi Trends had a net margin of 1.42% and a return on equity of 2.15%. During the same quarter in the prior year, the business earned $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.