Citi Trends, Inc. $CTRN Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) by 25.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,969 shares of the company’s stock after selling 12,475 shares during the period. Los Angeles Capital Management LLC owned 0.43% of Citi Trends worth $1,495,000 at the end of the most recent quarter.

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

Citi Trends Stock Up 4.5%

NASDAQ:CTRN opened at $45.66 on Thursday. Citi Trends, Inc. has a 52 week low of $28.25 and a 52 week high of $56.78. The company has a market capitalization of $381.72 million, a P/E ratio of 32.85 and a beta of 1.88. The stock’s fifty day moving average is $45.25 and its two-hundred day moving average is $45.03.

Citi Trends (NASDAQ:CTRN) last posted its 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. Citi Trends had a return on equity of 2.15% and a net margin of 1.42%.The company had revenue of $230.86 million for the quarter, compared to the consensus estimate of $217.42 million. During the same quarter in the previous year, the business earned $0.11 earnings per share.

Analyst Upgrades and Downgrades

CTRN has been the topic of a number of research analyst reports. Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Craig Hallum restated a “buy” rating on shares of Citi Trends in a research report on Wednesday, March 18th. Finally, DA Davidson restated a “buy” rating and issued a $68.00 target price on shares of Citi Trends in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Citi Trends has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insider Activity

In related news, Director Margaret L. Jenkins sold 2,000 shares of the business’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $45.91, for a total value of $91,820.00. Following the sale, the director owned 14,163 shares in the company, valued at approximately $650,223.33. The trade was a 12.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

About Citi Trends

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.