7,500 Shares in Citi Trends, Inc. $CTRN Acquired by Hodges Capital Management Inc.

Hodges Capital Management Inc. purchased a new stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,500 shares of the company’s stock, valued at approximately $250,000.

Several other large investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in shares of Citi Trends by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 16,220 shares of the company’s stock worth $359,000 after acquiring an additional 717 shares during the last quarter. Royce & Associates LP raised its position in Citi Trends by 34.8% in the 1st quarter. Royce & Associates LP now owns 248,356 shares of the company’s stock worth $5,497,000 after purchasing an additional 64,178 shares during the period. Nuveen LLC bought a new stake in Citi Trends in the first quarter worth $121,992,000. American Century Companies Inc. lifted its stake in Citi Trends by 10.5% in the first quarter. American Century Companies Inc. now owns 14,470 shares of the company’s stock worth $320,000 after purchasing an additional 1,371 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in Citi Trends by 5.0% during the first quarter. Hsbc Holdings PLC now owns 10,328 shares of the company’s stock valued at $223,000 after buying an additional 488 shares during the period.

Insider Activity

In other news, Director Margaret L. Jenkins sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $36.21, for a total transaction of $36,210.00. Following the transaction, the director directly owned 16,163 shares of the company’s stock, valued at approximately $585,262.23. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CTRN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Citi Trends in a report on Wednesday, October 8th. Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, DA Davidson lifted their price target on Citi Trends from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.50.

Citi Trends Trading Up 2.0%

Citi Trends stock opened at $39.47 on Tuesday. The firm has a market cap of $327.84 million, a P/E ratio of -19.74 and a beta of 2.24. Citi Trends, Inc. has a 1-year low of $16.18 and a 1-year high of $39.76. The firm has a 50-day moving average of $34.83 and a 200-day moving average of $31.45.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, January 12th. The company reported $1.22 earnings per share (EPS) for the quarter. The company had revenue of $251.92 million for the quarter. Citi Trends had a negative return on equity of 21.25% and a negative net margin of 2.13%. Citi Trends has set its FY 2020
Pre-Market guidance at 1.85-1.95 EPS. Q4 2020
Pre-Market guidance at 1.22-1.32 EPS.

Citi Trends Profile

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.