Ieq Capital LLC Acquires New Position in Citi Trends, Inc. $CTRN

Ieq Capital LLC bought a new position in Citi Trends, Inc. (NASDAQ:CTRN) in the second quarter, Holdings Channel reports. The firm bought 16,834 shares of the company’s stock, valued at approximately $974,000.

Several other large investors also recently bought and sold shares of CTRN. Allworth Financial LP acquired a new position in Citi Trends during the 2nd quarter valued at approximately $31,000. BNP Paribas Financial Markets lifted its stake in shares of Citi Trends by 143.3% during the third quarter. BNP Paribas Financial Markets now owns 1,051 shares of the company’s stock worth $33,000 after buying an additional 619 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Citi Trends by 175.0% during the fourth quarter. New York State Common Retirement Fund now owns 1,100 shares of the company’s stock worth $46,000 after buying an additional 700 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of Citi Trends during the fourth quarter valued at $51,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Citi Trends by 277.1% during the fourth quarter. Meeder Asset Management Inc. now owns 1,648 shares of the company’s stock valued at $68,000 after buying an additional 1,211 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, June 29th. Weiss Ratings upgraded Citi Trends from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Finally, DA Davidson set a $81.00 price objective on Citi Trends in a report on Wednesday. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Citi Trends presently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

Citi Trends Price Performance

CTRN stock opened at $68.67 on Friday. The company has a market capitalization of $572.02 million, a P/E ratio of 83.74 and a beta of 1.82. Citi Trends, Inc. has a 12 month low of $29.60 and a 12 month high of $77.91. The firm’s fifty day simple moving average is $65.42 and its 200-day simple moving average is $52.95.

Citi Trends (NASDAQ:CTRN) last issued its earnings results on Tuesday, August 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.37. The firm had revenue of $211.63 million during the quarter, compared to analysts’ expectations of $211.60 million. Citi Trends had a net margin of 0.84% and a return on equity of 8.25%.

Citi Trends Company 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.