EVR Research LP Buys Shares of 30,000 Citi Trends, Inc. $CTRN

EVR Research LP bought a new stake in shares of Citi Trends, Inc. (NASDAQ:CTRN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 30,000 shares of the company’s stock, valued at approximately $1,247,000. EVR Research LP owned 0.36% of Citi Trends as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Citi Trends by 10.2% during the 3rd quarter. Vanguard Group Inc. now owns 373,685 shares of the company’s stock valued at $11,595,000 after purchasing an additional 34,450 shares during the period. AWM Investment Company Inc. raised its stake in Citi Trends by 3.9% during the 4th quarter. AWM Investment Company Inc. now owns 241,657 shares of the company’s stock valued at $10,043,000 after purchasing an additional 9,180 shares during the period. Marshall Wace LLP raised its stake in Citi Trends by 61.1% during the 4th quarter. Marshall Wace LLP now owns 197,641 shares of the company’s stock valued at $8,214,000 after purchasing an additional 74,994 shares during the period. AQR Capital Management LLC raised its stake in Citi Trends by 239.6% during the 4th quarter. AQR Capital Management LLC now owns 182,133 shares of the company’s stock valued at $7,569,000 after purchasing an additional 128,508 shares during the period. Finally, Broad Bay Capital Management LP acquired a new position in shares of Citi Trends in the fourth quarter worth $6,650,000.

Citi Trends Trading Up 2.2%

NASDAQ CTRN opened at $56.84 on Thursday. Citi Trends, Inc. has a 1-year low of $28.25 and a 1-year high of $58.26. The company has a market capitalization of $473.48 million, a PE ratio of 40.89 and a beta of 1.88. The firm’s fifty day simple moving average is $46.18 and its 200-day simple moving average is $45.35.

Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.59. Citi Trends had a net margin of 1.42% and a return on equity of 2.09%. The business had revenue of $230.86 million for the quarter, compared to the consensus estimate of $217.42 million. During the same period in the prior year, the business posted $0.11 earnings per share.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTRN. Wall Street Zen raised shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. DA Davidson reaffirmed a “buy” rating and issued a $68.00 price target on shares of Citi Trends in a research note on Wednesday, June 3rd. Craig Hallum reaffirmed a “buy” rating on shares of Citi Trends in a research note on Wednesday, March 18th. Finally, Weiss Ratings raised shares of Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Citi Trends currently has an average rating of “Moderate Buy” and an average target price of $68.00.

Insider Buying and Selling

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

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.