Citi Trends, Inc. $CTRN Shares Sold by Tectonic Advisors LLC

Tectonic Advisors LLC lowered its stake in Citi Trends, Inc. (NASDAQ:CTRN) by 48.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 25,126 shares of the company’s stock after selling 23,561 shares during the period. Tectonic Advisors LLC’s holdings in Citi Trends were worth $1,453,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Citi Trends by 5.8% in the 2nd quarter. Bank of America Corp DE now owns 6,221 shares of the company’s stock worth $208,000 after acquiring an additional 342 shares during the last quarter. State of Wyoming increased its stake in Citi Trends by 7.0% in the 2nd quarter. State of Wyoming now owns 7,160 shares of the company’s stock worth $239,000 after purchasing an additional 469 shares in the last quarter. Strs Ohio raised its holdings in Citi Trends by 7.1% during the 1st quarter. Strs Ohio now owns 7,500 shares of the company’s stock worth $325,000 after buying an additional 500 shares during the period. Hsbc Holdings PLC lifted its stake in Citi Trends by 4.5% during the fourth quarter. Hsbc Holdings PLC now owns 13,589 shares of the company’s stock valued at $559,000 after buying an additional 586 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Citi Trends by 143.3% during the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock valued at $33,000 after buying an additional 619 shares in the last quarter.

Citi Trends Stock Down 2.8%

NASDAQ CTRN opened at $74.02 on Thursday. The stock has a market capitalization of $616.59 million, a PE ratio of 53.25 and a beta of 1.82. The company has a 50 day moving average price of $60.65 and a two-hundred day moving average price of $50.79. Citi Trends, Inc. has a 12-month low of $29.20 and a 12-month high of $77.91.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.32 by $0.59. The company 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 2.09%. During the same quarter in the prior year, the business posted $0.11 EPS.

Wall Street Analyst Weigh In

CTRN has been the subject of a number of research analyst reports. Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. DA Davidson increased their price objective on Citi Trends from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.00.

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.